FindaProperty said average rents climbed by 0.1% this month to £830. This was the sixth consecutive month of stable or rising rents as competition has increased among tenants who are seeking homes.

Stock levels have also reduced as the number of rental properties on the market have plunged by 10% between September and October, bringing supply back to the same level last year.

Michael O’Flynn, director at FindaProperty, said: “Buy-to-let landlords have had a tough time over the last eighteen months, but those who have managed to hang on in the rental market, despite a dramatic oversupply of properties, falling rents and rising unemployment among tenants, are now breathing a sigh of relief.”

He added: “Rents are on a clear road to recovery with six consecutive months of stable or rising prices. Landlords could be set to enjoy a further recovery in rents over the coming months.”

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