Rents have risen faster than house prices for the first time in nine years, underpinned by sturdy demand, according to an analysis by the Financial Times.

In a survey to be published today, the Royal Institution of Chartered Surveyors said rents rose at the fastest rate in four years in the three months to July. It said the demand came primarily from those who could not afford to buy, despite the sharp slowdown in house price inflation over the past year and last month's quarter-point cut in interest rates.