Average rents across the UK now account for 33% of salary, property group Sequence reported this morning.

It said that tenancy demand has risen 15% annually, while supply has dropped 17%.

The average monthly rent, excluding London, is now £689 – 4% more than a year ago.

In London, rents are almost twice as high at £1,515, and take up 60% of an average Londoner’s salary. According to Sequence, tenancy demand in London has risen at more than nine times the rate of supply.

Sequence’s own figures show that the number of agreed new tenancies outside London has risen 17% in a year, and in London 28%.