The average cost of renting a home in the UK increased by 2.3% during February 2014 to £818 per month, an increase of 5.1% over the year to February 2013 and the highest amount since September 2013 according to the Homelet rental index.

Greater London had the largest monthly average increase of 4.5% to £1,319 per month, making it 96.3% more expensive to rent a home in the capital than the rest of the UK (when the Greater London figure is removed).

Gary Abraham, HomeLet’s Sales and Marketing Director, said: “This month’s data shows the average cost of renting a home in the UK is the highest it’s been since September 2013. However, it appears the 4.5% monthly increase in the capital appears to have driven up the national average.

“At £1,319 per month, it currently costs almost double to live in a rented home in Greater London than in regions around the rest of the UK (when the Greater London figure is removed). The 96.3% difference between the capital’s and the rest of the UK’s rents is the highest ever recorded, and a reflection of the strong demand for rental homes in the region.”

The average cost of renting a home in the UK (excluding Greater London) increased by just 0.3% during February to £672 per month.

Seven of the 12 UK regions saw monthly increases, after London at 4.5% was Yorkshire and Humberside with 2.2% and then the South East at 1.1%.

Northern Ireland is the only region apart from Greater Lodon to see a second consecutive monthly increase in average rental amounts, with a rise of 0.5%, it now costs an average of £572 to rent a home in Northern Ireland.