My landlord has offered to reduce my rent if I sign up for another year when my current contract ends. When I first signed up last year he was not open to negotiations, his attitude was either take it for the advertised rate or leave it. The fact that he has now offered to reduce the rent (without me even asking) shows that prices are coming down and there is an over supply. If landlords don't offer the going rate then people are now in a position to be able to move.