Rent in Oxford rose by eight per cent over the past year, new figures have revealed.

It comes as Propertymark, which represents estate agents, said selling property or turning to the short-term letting market is becoming a "more attractive" option for landlords.

Provisional figures from the Office for National Statistics show the average private rent in Oxford reached £1,751 per month in the year to October – up 8 per cent from £1,626 a year prior.

It was also up 23 per cent from an estimated £1,426 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.

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Across the south east, the average rent was £1,336 – rising eight per cent from the year before.

Sarah Coles, head of personal finance at Hargreaves Lansdown, said: "Getting good news about your rent is about as common as discovering your housemates have washed up for you, or your landlord suggesting you get a dog.

"It means for many, the only way out of the endless cycle of rising costs is to buy, but this is far easier said than done when rents absorb so much of your income."

In October, the average private rent in Great Britain was £1,307 per month. This was £105, or nine per cent, higher than 12 months ago.

Nathan Emerson, chief executive at Propertymark, said: "As we continue to see a further increase in rental prices across the UK, our members continue to emphasise key concerns regarding the ongoing trend of lack of rental stock versus an ever-growing number of tenants looking for homes.

(Image: Rui Vieira) "Selling up altogether or turning to the short-term letting market is becoming a more attractive option for landlords due to the challenging legislative changes and increased financial liabilities they face."

The figures also show the different costs for various homes in Oxford, from £1,197 for a one-bed property to £2,595 for a home with four or more bedrooms in October.

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A detached housed in Oxford cost £2,340 to rent per month while a semi-detached cost £1,965 per month.

A terraced house was £1,810 per month, meanwhile a flat or maisonette was £1,387 a month.

Rent in Cherwell also rose by eight per cent over the past year.  

Rent in west Oxfordshire rose by six per cent over the past year, while rent in south Oxfordshire rose by nine per cent. 

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