Rents increased in seven regions, with the largest rises in Wales, up 11.4% to £8,859, the East Midlands, up 6.3% to £9,721 and the West Midlands, up 5.5% to £9,499.
Rental incomes in the North-West and East Anglia rose by over 3% to £7,009 and £8,854 respectively, while smaller rises were seen in the South-West and Yorkshire. Five out of 10 regions are now registering rents of over £9,000 per year.
However, with declines in the other three regions, rents were almost unchanged nationally – at £9,524 compared with last month's £9,598.
Over the past 12 months rental incomes in Wales have risen by 16.2%, in the East Midlands by 26.4% and in the West Midlands by 26.7%.
Property values also rose in August across eight of the 10 regions, with Wales up sharply by 11.06% to £126,576, the West Midlands up 7.3% to £132,853 and the South-West up 5.66% to £181,035. Smaller rises in values were seen across the remaining regions except in the North and the South-East, where prices fell slightly.
John Heron, managing director of Paragon Mortgages, says: “Landlords in most of the country are seeing a rise in rental incomes, fuelled by solid demand. Those regions witnessing the biggest rent rises were also those which experienced the greatest rises in property values.”