Average asking price rents rose 4.5% on an annual basis during the third quarter of this year, Rightmove reported this morning.

The portal says that average asking price rents per month now stand at £762 across the country, excluding London.

Greater London average asking rents are far higher at £2,014 per month.

The portal also reports that where landlords’ returns are concerned, the only way is Essex.

Rightmove names Halstead in Essex as the top hotspot, with landlords seeing a total return on investment of over 25%.

It is followed in the top ten charts by Borehamwood, Hertfordshire; Brentwood, Essex; Cottingham, Yorkshire; and Purfleet, Essex.

Sam Mitchell, head of lettings at Rightmove, said rents could rise further if landlords quit the market because of the Chancellor’s clampdown on claimable allowances.

He said: “It remains to be seen how much of an impact the new policy will have, but in the right areas and with proper advice and management, property remains an attractive investment.”