Average rent falls with flats and houses at odds

Permalink: Average rent falls with flats and houses at odds
by Gill Montia

New research from Findaproperty.com shows that UK rents have fallen in the past year.

According to the property website, the average monthly rent stood at £819 in April, down from £873 a year ago.

The trend looks set to continue with a monthly decline of £8 between March and April.

However, the survey also revealed that while rents on flats are lower than a year ago because of oversupply, tenants seeking larger houses will have to pay more.

According to the firm, the number of houses available to rent has fallen by 1.5% over the past two months, as those who have listed their properties for rent or sale withdraw from the market or achieve a sale by lowering their asking price.

Meanwhile, the number of flats available to rent has increased for the sixth month in a row, while tenant demand for such accommodation has fallen for 13 consecutive months.

Finally, the average time between tenants stood at 63 days in April having fallen in the past three months but even then remaining 15 days more than a year ago.