‘Chronic lack of supply’ drives rents up 12% in a year

'2022 has been a record-breaking year for rental growth,' says Hamptons. 'But even so, rents have failed to keep pace with wider inflation, and indeed landlords’ rising costs.'

Average rental prices in the capital fell by 3% last month, says Foxtons, in line with a normal seasonal slowdown.

'It’s a real challenge for renters at the moment,' says Rightmove, 'as there are simply not enough homes available to rent to meet the demand from people enquiring.'