Data from the Office for National Statistics (ONS) found that Wales had the highest rate of private rental growth, rising 8.7% or £64 to £795 per month.
Again, this rate of growth was lower than the 8.9% increase seen in March.
In England, the average monthly rent came to £1,390, representing a 7.5% or £97 increase since March.
Annual rent inflation was the lowest in Yorkshire and the Humber, at 4%. This was lower than the rate of 4.6% in the year to March and represented the tenth consecutive month of slowing rental growth.
Average private rents in London were the highest at £2,246, with an 8.4% rise since last year. This was down from a growth rate of 9.1% in the year to March.
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Monthly private rents were lowest in the North East at £728, also with an 8.4% uplift.
The average monthly rent in Scotland was £999 in April, 5.1% higher than the year before or a £48 increase. This was lower than the 5.7% annual growth seen in the 12 months to March, which was attributed to monthly price falls in Lothian.
Stretched affordability and a lack of rental stock
Jeremy Leaf, North London estate agent and a former Royal Institution of Chartered Surveyors (RICS) residential chair, said it was not surprising to see rental growth slow, as affordability was “clearly increasingly stretched for many tenants, particularly those seeking smaller one- and two-bedroom properties”.
He added: “As the Renters’ Rights Bill comes closer to reaching the statute book, landlords remaining in the sector are increasingly having to show more flexibility if they are to avoid the dreaded outcome of a property remaining empty for more than a few weeks.”
The ONS data showed that the average private rent was highest for detached properties, at £1,524 per month, and lowest for flats and maisonettes, at £1,309.
Properties with four or more bedrooms attracted an average monthly rent of £2,001 in April, while one-bed properties were at £1,082.
Despite the slowing rate of growth, Alex Upton, managing director for specialist mortgages and bridging at Hampshire Trust Bank (HTB), said it was clear why prices were still escalating.
She said: “We still do not have enough homes to meet demand. Propertymark data shows an increase in available stock, but it is not enough to keep pace with tenant enquiries. That level of competition means pricing pressure remains firmly upward.
“There is a risk that the imbalance becomes even more severe in the months ahead. The Renters’ Rights Bill may prove to be the final straw for some smaller landlords, particularly those for whom property is not a full-time focus.”
