BRITISH tenants have faced misery with home rents increasing over the past year, while landlords have reason to celebrate.

Following a rise of three per cent, the average monthly home rent now stands at £857, according to analysis recorded in the Your Move tracker report.

The average rent in the East of England is now £894, the highest outside of London.

The North East was recorded as having the cheapest rents in England, down two per cent to £535 over the course of the last year.

While London still has the highest at £1,276, the average is down by 0.3 per cent year on year.

Martyn Alderton, national lettings director at Your Move, said that while the results of the study may not be welcomed by renters, it is good news for landlords.

After a year where many landlords saw their yields squeezed, Your Move recorded no further falls during the first two months of 2018, with average yields now at 4.4 per cent nationwide.

“Areas outside of London continued their strong recent growth, with impressive performances in the East of England and the East Midlands,” Mr Alderton added.

He said that for those looking invest in a buy-to-let property, now could be the time to strike.

“Landlords are also enjoying more stability than they have been in recent times,” he said.

“This suggests that a recent squeeze on landlords’ profits could be coming to an end, which is good news for those looking to invest during 2018.”