It was the third consecutive month of increases and every region in the UK recorded a rise.

Month on month, rents were up by 2.3% compared to July.

London recorded the highest monthly increase of any region, with rents up by 4.1% from July to reach £1,713.

Wales recorded the highest year-on-year increase with rents up 12.8% to £723

HomeLet and Let Alliance head of business intelligence Rob Wishart says: “Typically, rents for new tenancies will rise in line with the rate of inflation, but that’s not been the case in the past few months. 

“The demand for housing and certain property types is outstripping supply in many areas, causing upward pressure on rental prices. 

“We can expect the increase in rents to continue for the foreseeable future, with many regions now seeing unprecedented demand for housing stock and landlords.  

“In the capital, we have seen yet another price rise, and we may see London accelerate at a faster rate than the rest of the country in the coming months, as international travel ramps up and rates of working from home move in the opposite direction.”

He adds: “On the whole, the private rented market has been exceptionally resilient throughout the pandemic, so it’s no surprise that the level of investment is increasing through sectors like build to rent. 

“Consistent yields over the long term coupled with capital appreciation have only bolstered confidence in the industry even in the face of the disruption we’ve had over the past 18 months.

“There’s no doubt that further challenges are ahead in the short term; with the end of the furlough scheme, which still supports around two million people, we expect claims on rent protection products to increase further.

“Whilst the pandemic has accelerated the demand for rent protection products, it’s become integral to many letting agents management propositions and has supported the confidence we’re seeing in the sector.”