City where new rents rose 45% last year

Rents for new tenancies shot up in a number of towns and cities last year.

In Leicester, new rents agreed rose 45%, in Southall, London, they rose 38% and in Cambridge 24%.

By contrast, rent prices have fallen by the greatest amount in Colchester, Croydon and Brighton compared to 2013, with rents on new rental agreements 24%, 23% and 18% lower.

On average, and despite the regional variations, newly agreed rents across the UK were 6.6% higher than in 2013, reference firm HomeLet said this morning.

The firm referenced some 350,000 prospective tenants last year.