A recent rental index finds that UK that despite a fall at the start of the year average rental prices are now steadily increasing.

From this month’s rental index report one of the biggest headlines is that the UK’s average monthly rent has now hit £1,184 – a rise  of 0.8 per cent from the previous month’s £1,175.

With London being taken out of the equation the UK’s average monthly rent stands at £993 up by 1 per cent. The North East comes out on top with the highest increase of 1.6 per cent from the previous month with the average monthly rent rising to £639.

London rental prices are now starting to slowly rise after overcoming a drop during previous months as average monthly rental prices are now reaching £1,979, up by 0.2 per cent from the preceding month.

A spokesperson of the organisation when commenting on the latest data, says: “With every region of the country reporting a month-on-month rental price rise, it’s fair to say that demand for rental properties remains exceptionally high. It had been interesting to observe a few months of decreased prices in London, but the capital appears to have recovered from a slight dip, in line with rises across the country.

“Given the insufficient housing stock and continued rising rents, rent guarantee becomes ever more essential for landlords and letting agents. As a group with rent guarantees protecting £1.5 billion in annual rents, we are acutely aware of how important it is for landlords to be protected should their tenants be unable to pay their rent.