The average cost of renting a residential property in the UK has increased more than four times as quickly as national average incomes, according to the latest findings from the HomeLet Rental Index for May.

According to the data, the average price of renting a home in the UK has increased by 7.5 per cent in the last 12 months to £846 per month, compared to £787 a year ago, while national average earnings are now currently rising at an annual rate of 1.7 per cent. Overall, rent increases outstripped rises in average national earnings in eight out of 12 regions of the country.

Read the full article at PROPERTYdrum