The firm found that Wakefield, Coventry, Brighton and Nottingham had all seen more renters moving from outside the area in the past year than anywhere else.

In the West Yorkshire town of Wakefield more than a quarter (28%) of new tenancies were signed by people moving into the area.

This was closely followed by Coventry (26%) and Brighton (24%). Nottingham saw 20% of its tenants moving from outside the area, ahead of London on 18%.

London has witnessed the greatest increase in average monthly rental prices since the recession began with a 51% increase, followed by Brighton (25%) and Coventry (21%)

The average rent in the capital for a new tenancy now stands at £1,515 per month, 10.1% higher than a year ago.

Across the rest of the UK this figure is £747.

Martin Totty, chief executive officer of Barbon Insurance Group, said: “The HomeLet Rental Index paints a fascinating picture: it reveals several hotspots around the country that are attracting and retaining tenants.

“For example, with its proximity to the burgeoning local economy of Leeds, Wakefield is an attractive and affordable location for tenants to move to. Meanwhile, cities such as Birmingham and Bristol appear to be ‘must stay’ locations, with tenants increasingly choosing to settle and stay in these cities, and continuing to choose to privately rent property in order to do so.

“While the London rental market continues to be popular, with the capital inevitably drawing in large numbers of people, it’s not the only part of the country attracting incomers, with tenants also choosing cities such as Nottingham, Brighton and Coventry.”