Rents for new lets have increased by 6.6% in the year to April, but this is the slowest annual rise for two-and-a-half years, according to Zoopla.
The property portal said the average rent on a new let had risen by £80 a month compared with a year earlier.
Although demand had eased, there were still 15 people on average chasing every home for rent.
Before the pandemic, the average was six people, Zoopla said.
“Rents continue to grow faster than average earnings although the gap is much narrower than a year ago,” said Richard Donnell, executive director at Zoopla.
The increase in rents is at its lowest rate since October 2021, he said.
The average monthly rent for a new let in the UK was £1,226 in April, according to this data.
Source: BBC
