21 would-be tenants competing for each rental home – Zoopla

Asking rents have hit another record high, as each lettings listing receives an average of 17 enquiries.

'There are signs that the UK rental market will turn in 2024,' says Richard Donnell; 'rents are reaching the maximum affordable price and rental demand is starting to slow.'

London's average monthly rent bill has risen by 3% in the last 12 months, while Northern regions have seen three-times that growth.