21 Jan

Rents fall for first time since January 2010

Rents fall for first time since January 2010

December saw the first drop in rent for tenants since January 2010, with the average UK rent seeing a 1.2 per cent decrease.

The latest Buy-To-Let Index from LSL Property Services plc shows the monthly average fall to £684 in December – the lowest average since July last year.

People choosing houses to rent in Wales last year saw the fastest drop in rent, with a 2.3 per cent decrease.

Rent fell by 2.5 per cent in the south-east and 2.3 per cent on London, the index revealed.

Some regions experienced smaller decreases, but every region in the UK did see their rent get cheaper in the run up to Christmas.

David Newnes of LSL Property Services said: "The recent slowdown in rents is down to landlords' pricing strategies. Landlords offering properties during the holiday season often lower the asking rent to avoid a costly void period."

Lower rent helped to avoid buy to let properties standing unoccupied in December, he added.

Chris Horne, editor of the Property Hawk website, recently said demand for property to rent will remain high in 2011.ADNFCR-1222-ID-800356578-ADNFCR

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