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23rd November 2011

Seasonal Dip To Kick In

With Christmas only 32 days away peoples focus turns to presents, gifts and other things. This is represented in the lowered demand for property over the winter months. However rents are still 4% higher than those 12 months ago.

Southampton's rental market follows these trends also, however even though rents are higher than a year ago, they tend to be properties that are in good condition and offer savings to tenants as their budgets are stretched.

The average rent in the South west of England in October was £763, 2.5% less than September 2011. As a letting agent in Southampton our business trends support this, with correctly priced properties that are in good order going quickly. However landlords who read the press and believe rents are rising and putting unrealistic rents on their properties will find that they 'stick' and are difficult to shift. Particularly if they put pressure on a tenants budget with high utility charges and council tax.

Tenants who do move in the Southampton area over the winter months tend to put offers in for slightly lower rents, due to the pressure on living expenses.

For more information on Southampton's property market then call Martin and Co Southampton West now on 02380 988881.