Peak-week bargains, especially during half-term and the school holidays, will be thin on the ground, but those willing to travel in the so-called shoulder weeks (the periods either side of high season) could save hundreds of pounds on published rates.

“We’re getting reports that holidaymakers are haggling hard,” says Kate Stinchcombe, of Holidaylettings.co.uk. “For shoulder weeks, which can be hard to shift, we’re advising owners to be flexible on prices.”

Richard Green, who manages a portfolio of properties on the Costa del Sol, says many villa owners are happy just to cover their mortgage: “Bookings are clearly down on last year, and with the glut of rental properties on the Costa, owners are taking offers just to keep up the payments.”

Sarah Hutchins, of SJ Villas, which specialises in top-end properties, tells much the same story. “Bookings are coming in much later, and, as a result, we are finding that many owners, on our recommendation, are open to negotiation,” she says. “We are getting some great deals for our clients, even in peak holiday weeks.”

The one place you won’t find a bargain is in Britain, where owners and agencies are expecting a bumper summer. “Families who’ve been skiing have seen how expensive Europe has become, and they’re saying they’ll be staying at home this summer,” says Matthew Evans, of Coastal Cottages of Pembrokeshire.

Simon Tregoning, managing director of Classic Cottages, agrees. “We are certainly not in a position where we are looking to discount – far from it,” he says. “One of the key factors insulating us from the full effects of the recession is the exchange-rate-driven increase in the relative value of holidaying at home.”

Quite how long the domestic holiday-home business can remain so bullish depends entirely on the weather. “We can just about cope with the memory of two abysmal summers,” Evans says. “But I don’t think we will be able to sustain it.”

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