The cost of renting a home rose at its fastest rate in a year - with the average tenant paying £713 a month, a survey has said.

Tenants paid 1.2% more on average to rent a property in the UK in August than they did in July, according to LSL Property Services.

The cost rose quickest in Wales and the South East of England in the last month.

Tenant arrears increased for the first time since April, the survey added.

"We are in the thick of the busiest time of year for the rental market, and red-hot demand for properties is driving rents up at their fastest monthly pace in the last 12 months," said David Newnes, LSL's estate agency managing director.

"Recent graduates moving for their first jobs have further exaggerated the long-term and growing demand from frustrated buyers.

"In the last two years, average rents have risen by more than £50 a month."

The cost of renting a home rose at its fastest rate in a year - with the average tenant paying £713 a month, a survey has said.

"In the last two years, average rents have risen by more than £50 a month."

Something doesn't add up there.

On the figures provided I see that the average rent in the last two years has risen by 1200 GBP, and that the current average rent is 713 GBP.