Grainger has reported a 7.1% increase in rental growth for the first eight months of its financial year.

The UK’s largest listed residential landlord and build-to-rent developer, in a trading update for the eight months to 31 May, also said the occupancy levels of its properties now stand at 98.7% , its highest ever.

The update follows figures from the Office for National Statistics earlier this year showing private rental prices increased 4.9% in the year to March 2023, the largest rise since the ONS began recording the data in 2016.