Average UK rental prices performed strongly in 2015 despite a small seasonal dip in December, according to the monthly Landbay Rental Index.

Average monthly rents ended 2015 with a slight seasonal dip of -0.2% from £1,289 in November 2015 to £1,286 in December 2015. The December data means that average rents for the UK in 2015 were £1,280, up 3.8% on 2014.

The latest data from Landbay means that rents in the UK grew twice as fast as wages, which climbed 1.9% in 2015.

The acceleration of rents ahead of pay suggests that large parts of the UK are suffering from a shortage of properties to rent. For example, in the East of England, stagnant wage growth of 0.1% combined with rapid rent rises meant that rental growth outpaced wage growth by over 5%. The North East and North West were the only regions to see wages outpace rental increases.