HomeLet's data reveals that when London is excluded the average rent in the UK is now £902, a 0.6% rise on January.
Only two regions saw a price dip during February, with London seeing rents down 0.2% to an average of £1,757 PCM and East Midlands down 0.1% to an average price of £745 PCM.
Northern Ireland saw the largest MoM rise of 1.8% to a new average price of £718 PCM.
Andy Halstead, HomeLet & Let Alliance Chief Executive Officer, said: “The second month of 2022 followed largely similar trends to the first, with the average rental price across the UK continuing to rise month-on-month. The housing supply required to meet the demand sadly isn’t there, so as far as we can tell, this is a trend that will continue to appear throughout 2022, barring an unexpected change.
“It is interesting to see Greater London record a small dip after a sustained period of resurgence, albeit the dip is a relatively small one.
“The cost of living crisis is likely to intensify as the months' tick over, due to inflation and rising energy prices, making it more important than ever for landlords to consider rent protection products to ensure that they are sufficiently protected against the unpredictable nature of the current situation.”
