The proportion of UK homes let by overseas-based landlords has risen for the first time since 2010.

The overall proportion of homes let by overseas landlords rose to 11% in the first ten months of this year, up from 7% in the same period last year.

Countrywide brand Hamptons International said the increase has been mainly driven by areas in the south.

The highest proportion of overseas landlords is in London at 18%.

The depreciation of sterling is a major factor, says Hamptons, and in many cases more than pays for the 3% Stamp Duty surcharge payable on the purchase of additional homes.

The average home in Great Britain cost £53,065 or 23% less than it did in 2014 for a US dollar buyer – solely due to a fall in the value of the pound.

Hamptons also reports that the average rent of a newly let home in Britain rose to £999 per calendar month in October, 2.2% higher than in the same month last year.

The only region where rents fell slightly was the north, with an annual decrease of 0.6%. Rents in the south-east were up 3.9%.