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.
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