Property rent rates in Ashfield have risen seven per cent in the last year

It comes as Propertymark, a membership organisation for estate agents, warned upcoming reforms in England and Scotland may add more ‘uncertainty to aspiring investors’ and increase rent prices in the long term.

Provisional figures from the Office for National Statistics show the average private rent in Ashfield reached £754 per month in the year to June – up seven per cent from £702 a year prior.

It was also up 41 per cent from an estimated £533 a month five years ago.

Valuation Office Agency rent officers collect prices from a variety of sources, including landlords and letting agents, with the aim to collect data on approximately 10 per cent of the market.

Across the East Midlands, the average rent was £885 – rising seven per cent from the year before.

Nathan Emerson, chief executive of Propertymark, said: "Britain needs a stable and thriving private rental market to provide choice to people who intend to put a roof over their heads.

"New legislation especially in both England and Scotland is adding more uncertainty to aspiring investors and ultimately raising rent prices in the long term, creating a myriad of unintended consequences.

"It is vital that the UK Government and the devolved administrations listen to those working in the lettings market to ensure that the private rental sector works better for everyone."

The figures also show the different costs for various homes in Ashfield in June, from £529 for a one-bed property to £1,142 for a home with four or more bedrooms.