Wrexham has been revealed as the busiest rental market in Britain, with letting agents in the city receiving an average of 54 enquiries per available property, significantly higher than the national average of 19.

Glasgow and Bristol follow closely behind, with 52 and 51 enquiries per rental property, respectively, according to Rightmove’s (RMV.L) Demand Tracker, which analyses millions of local data points across more than 250 local authorities.

The surge in demand comes as average advertised rents outside London hit a record £1,349 per calendar month (pcm), marking a 5% increase compared to last year. While rents are still climbing, this is the slowest pace of growth since 2021, down from the peak 12% annual increase seen in 2022. Rightmove’s forecast for 5% rent growth this year appears on target.

In Wrexham the average advertised rent was £967, lower than Glasgow's £1,078 or Bristol's £1,658. Blackpool is the cheapest place to rent on the list, at £805.

Read more: How estate agents value your home

Tim Bannister, Rightmove’s property expert, said: “While we’ve seen some easing in the rental market compared to last year, many local areas are still facing intense competition. Receiving over 50 enquiries per rental property in some regions is staggering and highlights the ongoing challenges in balancing supply and demand across Great Britain.”

Although the market remains highly competitive, the imbalance between supply and demand has shown signs of improvement. Tenant demand has dropped by 16% compared to last year, while the number of available rental properties has risen by 8%. However, demand remains 17% above pre-pandemic levels, and supply is still 32% lower than in 2019.

A contributing factor to the ongoing shortage of rental properties is the growing number of former rental homes now being listed for sale, as more landlords exit the market. Factors driving this trend include rising mortgage rates, the potential for higher capital gains tax, and increased costs for landlords.

Read more: How renting might be a better investment than buying

Angharad Trueman, ARLA Propertymark president, said: “Since the coronavirus pandemic there has been a sizeable reformatting of how people choose the location on where they might like to live. Traditionally people have chosen locations that have strong links to their work location, for example close to major cities.

“However, with the homeworking revolution now a more widespread part of life, it has given people the flexibility to look further afield to locations that bring additional benefits to their home life, such as easier access to countryside or the ability dwell in a more substantial property due to typically lower rental prices away from busy metropolitan areas.”

Download the Yahoo Finance app, available for Apple and Android.