Campaigners demand action after Ashfield rents rise nine per cent in last year

Campaign group Generation Rent said it is ‘nonsensical’ not to have price caps on rent increases, adding it ‘leads to poverty and homelessness’.

Provisional figures from the Office for National Statistics show the average private rent in Ashfield reached £743 per month in the year to February – up nine per cent from £679 last year.

It was also up 40 per cent from an estimated £529 a month five years ago.

The figures also show the different costs for various homes in Ashfield, from £520 for a one-bed property to £1,133 for a home with four or more bedrooms in February.

The average monthly rent for a detached house in Ashfield was £982, while a semi-detached was £790, a terraced house £724 and a flat or maisonette £590.

Data on rent prices is collected by the Valuation Office Agency from a variety of sources, including landlords and letting agents, with the aim of collecting data on approximately 10 per cent of the market.

Ben Twomey, chief executive of Generation Rent, said rents have outpaced people's wages for years.

He added: "There is simply no money left and renters cannot afford to wait any longer.

"Building affordable housing is welcome but it will take years for renters to see the benefit."

He added the Government must act now to ‘slam the brakes on soaring rents’.

He continued: "We have price caps on things like energy and water, but nothing to stop a landlord suddenly hiking the cost of someone's home.

"It’s nonsensical and leads to poverty and homelessness.”

Nathan Emerson, chief executive of Propertymark, said there is ‘little surprise’ that rents continue to increase, but added: “There are reasons to believe that they have not increased at the rate they have done in previous years.

“For example, recent data has found that annual rent inflation for new lets is running at its lowest level for three-and-a-half years."

“Propertymark recognises that the UK Government’s aim is to safeguard renters and give them greater security.

"However, an unintended consequence of continued legislation placed on landlords is overly prohibitive regulations will likely contribute to a reduced supply of rental homes, an increase in rent prices, making it harder for people to find affordable housing."