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Renters urged to act fast to get best rates

Monday, 19 December 2011 11:51 AM

December is the best time to look for a rented property as the market experiences a temporary slowdown and asking rents fall, according to a survey by Findaproperty.com.

The website's comprehensive property review shows that monthly rents fell in November for the fourth year in a row, with the average asking price now £871 a month.

The review has shown a lull in the final two months of the year since 2008 but also demonstrates that rents bounce back to reach new heights the following Spring.

This year rents rose between January and September to reach a peak of £890 a month – or half the average household's net earnings per month. And Findaproperty.com believes the same thing will happen in 2012.

Average asking rents fell 1.5 per cent across the UK in November. The East Midlands saw the biggest decline (-4.8 per cent) but Wales bucked the trend with a 1.3 per cent rise.

Samantha Baden, property analyst at FindaProperty.com, says: "This temporary dip in asking prices won't last long, and it's a great opportunity for potential tenants to agree a rate that's favourable in comparison to the rest of the year.

"Over the past couple of years rental prices have picked up very quickly after the December lull, so our advice to potential buyers is to act fast to take advantage of this seasonal dip."

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