Demand for rental accommodation across Britain has grown over the past 12 months.

According to Countrywide, there are now five tenants chasing each rental property, up from 4.2 tenants in August 2013.

It says that increased demand is being reflected in rental values, with 15% of properties being let for more than their advertised prices in August – a figure which rises to 19% in London.

Generally, in August landlords achieved an average of 99.6% of the asking rent.

However, Countrywide says that despite the increase in demand over the past three months, these figures remain well below 2012 levels.

It says that the Help to Buy scheme has transferred some of the demand out of the rental market.

Average rents in the UK are now over £900 per month – up 5.1% on a year ago – and the average tenancy is now 16 months, says the firm.