The average rent paid by private tenants in England and Wales reached a new record high in July, of £725 a month, a letting group has said.

LSL, which owns the Your Move and Reeds Rains property chains, said average rents rose by 1% last month and were 2.9% higher than a year ago.

This was due to growing numbers unable to get a mortgage, it said.

View LSL Buy-to-let Index

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