Rents rise for fifth month in a row

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Private rents have soared for the fifth month in a row to reach a new high as pressure on the sector continues to be ramped up, a study has found.

Typical monthly rents increased by 2.9% year-on-year to reach £734 in August, surpassing a previous peak of £725 recorded in July, according to lettings network LSL Property Services, which owns chains including Your Move and Reeds Rains.