December is the optimum time for renters to find a new property according to research, as the festive period creates a market slowdown which pushes down prices.

Findaproperty.com’s monthly property review found rental prices fell 1.5 per cent last month and are expected to fall again this month before rebounding in the New Year.

Rental prices reached record highs earlier in the year, peaking at £890 per month for an average property in September - equivalent to half the average household’s net earnings per month.

However, the festive period creates a small window of opportunity for those looking to find rented accommodation and wanting to secure favourable prices.

The drop in rent is caused by landlords looking to avoid vacant properties over the Christmas period and tenant activity slowing down in the run-up to the New Year.

Monthly rents dipped in November for the fourth consecutive year according to the property website, bringing the average asking price per month down to £871.

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December slowdown: The festive period sees rental prices drop as landlords look to fill empty properties