Rental growth slowed to almost zero in February, Your Move data shows.

Figures from the agent suggest average rents grew 0.4% annually in February to £861 per month.

This is slower than the 1.4% annual growth rate recorded in January.

The south-west of England was home to faster rent rises than anywhere else in England and Wales, up 4% in the year to February, reaching an average rent of £703 per calendar month.

This was attributed to landlords looking beyond London and a boom in demand in cities such as Bristol.

Tenants in the north-east had the cheapest rents, at £540 per month, up 1% annually.

Meanwhile, London and the east of England registered a decline in rents.

Renters in the east of England saw the biggest fall, with rents down 1.8% annually to £878 per month.

The agent also reported the average return on properties in the north-east was 5% during February, closely followed by the north-west at 4.8%, while London landlords saw the smallest percentage returns, with a typical property in the capital yielding 3.2%.

Martyn Alderton, national lettings director at Your Move, said: “Renters have been drawn to Bristol not only because of its vibrant arts and cultural scene but also its strong job prospects. This has been accompanied by a boom in build to rent in the city, which has driven up demand and the average rent across the region.

“Private landlords meanwhile have tended to prefer the charms of the north of England, a region where yields are significantly higher than elsewhere.

“But returns in all regions have remained steady compared with January, meaning landlords across the country have enjoyed solid yields.”