Figures from the Association of Residential Lettings Agents (ARLA) said more than a third of letting agents had seen rents hike in the last month, the biggest so far this year.

Additionally, eight in ten agents said they expect rents to increase over the next five years. This rise could be hastened by Chancellor George Osborne’s decision to introduce some restrictions on buy-to-let tax relief.

David Cox, ARLA managing director, described these trends as ‘worrying’ and said a wider solution to the housing crisis needed to be found.

“It is worrying to see so many agents reporting an increase in the cost of rent over the last six months, especially considering so many people rent as a way to bridge the gap whilst they save to get onto the property ladder,” he said.

“Findings like this continue to prove that the housing crisis isn’t going to disappear anytime soon and it will take a while before we see steps heading in the right direction.

“The impact of the Chancellor’s reductions to the amount of tax relief buy-to-let investors can claim – announced in the Emergency Budget this month – will affect the cost of renting over the coming months and is likely to mean it will take even longer to see any improvement in affordability in the private rented sector.”

The report found that the East Midlands was home to the most rent rises, with almost half (48%) of agents reporting increases. This compares to only 17% in Wales, the survey found.