Time to rent

Frustrated property sellers equals happy renters.

The cost of renting a home has dropped as frustrated property sellers have been flooding the market, according to two separate surveys. Owners were choosing to let rather than sell, having accepted that property prices were likely to stay low for some time, said property website Globrix.

Cities such as Manchester continue to have an oversupply of new-build apartments, said Findaproperty.com. Its research chief said landlords were adding perks to attract tenants.