Rents in the UK went up by 8.21% on average between the second quarter of last year and the second quarter of 2022, says The Deposit Protection Service (DPS).

This equates to average rents rising from £804 to £870 per month.

And the jump up from Q1 2022 to Q2 2022 came to 2.47% – from £849 to £870 – the fastest quarterly increase since its records began in 2007.

The DPS reports that the most rapid quarterly increases since 2007 have occurred in this year period – 1.74% in Q3 2021 and 1.96%, in Q4 2021.

The areas with the highest annual gains read as the North East, where a 10.75% annual rise has seen rents come to £587, and the West Midlands. Here, a 10.70% annual rise has taken the average rent to £714.

In pure value terms, the most expense place to rent remains London, the monthly bill of which increased by 9.44% over the year, leaving renters having to pay £1,438 on average per month.

DPS managing director Matt Trevett comments: “The last 12 months of rent increases, including a significant acceleration during the last quarter, shows that the price of renting forms a substantial part in rising living costs across the country.

“A mixture of tenants moving back into cities, continued desire for larger rental properties with more space and a current shortage of properties of all types is causing rent prices to rise.

“Despite the current economic environment, many tenants still seem prepared to pay in order to secure a rental property.”