PRIVATE rents in and around Nottingham are more affordable than in other parts of the country, according to a study.
Research from Homelet shows that the average rent in the East Midlands is rising by just 0.2 per cent a year compared with more than 11 per cent in London and 6.4 per cent in East Anglia.
The average monthly rent in the region is now £579.
The London market continues to be well ahead of the rest of the country, with the average monthly rent in Greater London £1,412, compared with £694 for the rest of the UK.
Commenting on the report, Martin Totty, Barbon Insurance Group's chief executive, said: "The private rental sector continues to show strong growth, with rental values increasing year on year across the country, with little exception.
"Although average incomes have also been rising, there are parts of the country where we are seeing affordability getting tighter. As a rule of thumb, for a rental property to be affordable, a tenant's gross income must be at least two-and-a-half times his or her annual rent.
"Rents in London have pushed beyond that."