Rent in Ashfield rises six per cent in past year according to the Office for National Statistics
Rent in Ashfield rose six per cent over the past year, new figures show.
Propertymark, a membership organisation for estate agents, said persistent rental inflation "points to a system struggling to meet demand".
Provisional figures from the Office for National Statistics show the average private rent in Ashfield reached £765 per month in the year to October – up six per cent from £724 a year prior.
It was also up 41 per cent from an estimated £542 a month five years ago.
Valuation Office Agency rent officers collect prices from a variety of sources, including landlords and letting agents, with the aim to collect data on approximately 10 per cent of the market.
Across the East Midlands, the average rent was £897 – rising six per cent from the year before.
West Northamptonshire had the highest rental cost in the region at £1,057 per month, while the lowest was in East Lindsey at £660.
Nathan Emerson, chief executive of Propertymark, said: "An increase in rental prices highlights the continuing pressures faced by the private rented sector.
"While rising rents may reflect strong demand and limited supply, they also intensify the affordability challenges many tenants are already experiencing.
"Letting agents and landlords will need to navigate these conditions carefully, ensuring any increases remain fair and sustainable.
"Policymakers must recognise that persistent rental inflation points to a system struggling to meet demand and respond with measures that encourage more homes into the sector rather than driving landlords out."
In October, the average private rent in Great Britain was £1,371 per month. This was £65, or five per cent, higher than 12 months ago.
ONS head of housing market indices Aimee North said: "The rental market continues to cool, with UK annual inflation easing for the 10th consecutive month."
The figures also show the different costs for various homes in Ashfield, from £538 for a one-bed property to £1,155 for a home with four or more bedrooms in October.
Among the property types in the area:
A detached housed cost £1,005 to rent per month, a semi-detached cost £812 per month, a terraced house was £746 per month, and a flat or maisonette was £609 a month.