Rents 'rise rapidly in Eastern England'

http://www.bbc.co.uk/news/business-34280174

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The cost of renting a home is rising fastest in the East of England, a survey suggests - the same region where house prices are increasing rapidly.

Typical rent stood at £843 a month in August, 11.5% higher than a year earlier, according to lettings agencies Your Move and Reeds Rains.

Although the cost of renting is higher in London, the annual rate of change is faster in the East.

Earlier this week, analysts suggested housing "action" was outside of London.

Official figures from the Office for National Statistics (ONS) showed the typical home in the East increased in cost by 8.3% in the year to the end of July.

The Your Move survey suggested that rents across the whole of England and Wales were down 0.1% in August compared with July, at an average of £803 a month.

The annual pace of rental growth slowed to 5.5% over the last 12 months, down from 6.8% in July.