Consumers find solace in falling rent - Money - News - Moneyfacts

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Consumers find solace in falling rent

Consumers find solace in falling rent

Category: Money

Updated: 27/02/2009
First Published: 27/02/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The cost of renting is falling because homeowners are choosing to let their properties rather than sell them, according to a survey.

This is swelling the rental market, which means that consumers are being offered a greater range of properties to choose from at highly competitive prices, says research conducted by property website Globrix.

A further study conducted by Findaproperty.com has found that landlords are including extra features, such as satellite television and cleaners, to make properties more appealing in locations where there are oversupplies of new-build apartments and houses.

Figures show that average rental prices have dropped to £830 in February, down 4.8% in the last 12 months. In addition, the average time that property stays on the market has risen to 70 days, an increase of 15 days last year. More evidence, if it were needed, that the power in the rental market currently lies with tenants.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Brits overspent on Christmas by £3.8bn

The festive season has well and truly come to an end, and the January Blues have taken over. This has no doubt been partly brought on by excess spending over the Christmas period – and considering how much people overspent, it’s little wonder.

Have your financial habits changed?

2016 was certainly a turbulent year, and it's had a notable impact on household finances. Indeed, research shows that recent events have influenced the way over half of UK respondents manage their finances, with many becoming more cautious.

Kids got £180 in pocket money in 2016

New research has revealed that kids aged 4-14 received an average of £180.44 in pocket money over the last year, which was topped up by an additional £47 on average received in cash over the Christmas period.
 
Close