Rent in Wales has decreased according to new research.

The HomeLet Rental Index has observed a 0.4 per cent fall this month, saving average renters around £3 per month.

However, rental prices in nearly all other regions are on the up, with increases of up to 2.1 per cent reported.

Despite this month's reduction, Welsh rents have increased by 4.84 per cent in the last 12 months.

This constitutes around an extra £40 per month, one of the smallest increases in the UK.

Interestingly, the disappointing trend continues as the UK's average rent increased by 0.9 per cent this month.

Experts argue this rise is out of sync with wage increases, symbolising a harsh reality for many.

HomeLet & Let Alliance chief executive officer, Andy Halstead, commented on the situation: "It’s good news for Wales this month, one of the only regions to see a decrease in our data set.

"Whilst price drops are always good news, the figures across most other regions in the country are still cause for concern."

Predictions suggest Welsh rent prices could escalate by another 5 to 10 per cent by the end of 2024.

A comprehensive breakdown of rental increases and more can be obtained from the HomeLet website.