The cost of renting has risen to an all-time high of £761 a month, according to a buy-to-let index.

The figures were published by a major lettings network which said it was a peak month for tenants to look for new homes.

LSL Property Services, which owns chains Your Move and Reeds Rains, said rents rose 2.4pc in the 12 months to August across England and Wales, meaning they have edged £3 higher than a previous record set in October 2013 of £758 a month on average.