Rental growth across Great Britain increased by 3.7 per cent in December 2019, noting the strongest growth recorded in December since 2014.

In total, renters paid £62.4bn over 2019, a rise of £3.1bn on 2018.

This rise resulted in the average cost of a rental home increasing to £999 per month.

In addition, the data collected by Hamptons shows that the total rent bill since 2009, has increased by £27.9bn, equating to a rise of 81 per cent.

On a regional basis, the South West retained the top spot for rental growth, with the average rent increasing by 5.6 per cent to £824 per month, in the year to December 2019.

Notably every region recorded a rise in average rents, however, Scotland noted the small increase, rising by 1.7 per cent to £653 per month, over the same time frame.

Hamptons adds that Millennials and Generation Z paid 74 per cent of all rent last year.

Hamptons International head of research Aneisha Beveridge says: “Average rents grew 3.7 per cent in 2019. Rents rose in every region, but those in the South saw the biggest increases. Low stock levels have put pressure on rents, resulting in stronger rental growth during the second half of 2019.