Great British rents up 2.6%

Rents grew by 2.8% in England, 0.2% in Wales and 0.5% in Scotland.

Rents rose by 2.6% in the year to April 2016 across Great Britain, the ONS Index of Private Housing Rental Prices has found.

Rents grew by 2.8% in England, 0.2% in Wales and 0.5% in Scotland.

Paul Smith, chief executive of haart estate agents, reckoned the ongoing buy-to-let crackdown will accelerate rent increases.

He said: “While the number of properties available to rent surged following a rush from buy-to-let investors in advance of the stamp duty changes on the 1 April, we are now seeing a decline in stock as investors withdraw from the market.

“Ironically, the government’s efforts to help first-time buyers by penalising investors, could end up hindering them as a shortage of rental properties will drive up rents in the long-term, making it more difficult to save up for a deposit.”

On 1 April 2016 the government's 3% stamp duty surcharge for buy-to-let investors came into force and the amount of mortgage tax relief landlords will be able to claim back will be cut from 45% to 20% between 2017 and 2020.