Four year trend of rising rents "shows no sign of abating"
Private rental prices in the UK increased by 1.1 per cent in the 12 months to February, according to the Office for National Statistics.
On a monthly basis, the data shows that rents increased by 1 per cent.
In England and Wales, private rental prices grew by 1.1 per cent and in Scotland private rental prices increased by 0.7 per cent.
Meanwhile, the data reveals a subdued market in London, with private rental prices increasing by just 0.2 per cent year-on-year, up from 0.1 per cent in January 2019.
When the capital is taken out of the equation, UK rental growth improved to 1.5 per cent year-on-year.
Tom Mundy, COO of property technology company Goodlord, said: "The trend of rising rents that we've seen since January 2015 shows no signs of abating, despite prices in the London rental market only rising 0.2 per cent in the 12 months to February 2019.
"Whilst this is good news for landlords, wage stagnation means these rent rises are set to hit Generation Rent extremely hard.
“Despite record levels of employment, more and more young people are on course to become life-long renters, meaning every month we see rents rise is another month where a whole generation will feel the impact on their bank balance and their standard of living.
“To justify these increases I think now, more than ever, landlords and the wider market have an increasing responsibility to ensure the experience of renting is positive and enjoyable for everyone involved.”