The number of properties advertised on the Findaproperty web site doubled in the six months up to February and according to property search engine Globrix, average rents across the UK fell to £795/month at the start of February – a decline of just over 16% since May last year.

The number of buy-to-let mortgages that are three months or more in arrears increased from 7,500 in December 2007 to 26,800 at the end of 2008 and 4,000 buy-to-let homes were repossessed in 2008, double the number in 2007.

Residential rents decline as buy-to-let landlords feel the pinch

Rents across the UK have declined by as much as 25% as a glut of unsold properties is placed on the rental market. Arrears and repossessions are currently double the rate of the owner-occupied market.

The number of properties advertised on the Findaproperty web site doubled in the six months up to February and according to property search engine Globrix, average rents across the UK fell to £795/month at the start of February – a decline of just over 16% since May last year.

The number of buy-to-let mortgages that are three months or more in arrears increased from 7,500 in December 2007 to 26,800 at the end of 2008 and 4,000 buy-to-let homes were repossessed in 2008, double the number in 2007.