After several months of record breaking rises, it looks like the upward trend of rent costs is beginning to slow. New data published this week suggests that the average rent in the UK is now £720 a month. That’s a rise on the figure for October but only a small, 0.2% rise. This is the smallest increase since February 2011.

As ever there is a very mixed regional picture. Rises in the south east and east of England were significantly higher at around 1.5%, while in some regions such as the north east, prices actually fell by around 1.5%. As usual London leads the regions in terms of cost, with an average monthly rent that now stands at £1,030. That’s almost 6% higher than a year ago.

There are also some warning signs with regard to affordability as defaults rates climbed significantly in October, up to 10.1% compared to 8.6% at the end of September.