A prominent independent lettings agency says the typical tenant outside of London now spends 63 per cent of their household income on rent and utilities.

And there agency - Robert Irving Burns - says would-be buyers are now priced out of sales market due to the mortgage crisis and a lack of supply. 

The agency says that despite energy prices having been capped there is now what it calls “a toxic combination of rising costs” for landlords through inflation, increasing demand as would-be buyers are priced out of the mortgage market and a lack of available stock has created a perfect storm in the rental market, which could see rents rise even further in the New Year.