West Lothian

Callum McQueenie

Callum McQueenie - Mavor & Company

“High demand and low stock in West Lothian has been a common theme throughout the year and continued into the first half of Q4 before the typical, quieter festive period. Diminishing stock means rental values continue to rise throughout the county. Tenants choosing to stay put is also having an impact on available stock levels. Factors including rising interest rates, the cost of living crisis, as well as temporary legislation introduced by the government appear to have existing landlords considering their options whilst also deterring new landlords entering the market. New investment and support are needed more than ever to plug an ever-increasing gap within the rental market.”

Market Overview - Q4 2022

BedsAverage
Rent
Rent Change
1yr
Rent Change
5yrs
Rent Change
10yrs
Av. TTL
(days)
TTL Change
YoY
Let within
a week
Let within
a month
1 bed £591 7.7% 20.6% 39.1% 22 11 29% 71%
2 bed £731 7.8% 20.6% 33.4% 17 3 28% 78%
3 bed £954 14.8% 26.4% 46.8% 19 5 15% 70%
All £838 9.0% 26.0% 39.7% 18 5 25% 76%

Average Rent (pcm) by Number of Bedrooms

Average Time To Let (TTL) by Number of Bedrooms

Rental Index (base Q1 2008)

YearQ1Q2Q3Q4
2008 100.0 101.4 104.8 101.2
2009 101.9 98.4 100.5 99.7
2010 100.9 100.2 100.2 100.3
2011 100.7 104.8 100.5 100.9
2012 98.1 102.8 103.3 103.4
2013 104.1 103.8 108.8 104.3
2014 103.3 103.6 105.2 104.1
2015 105.9 105.7 107.9 110.0
2016 107.4 112.4 113.3 115.3
2017 113.1 112.9 114.7 114.7
2018 118.3 117.6 120.0 120.5
2019 122.4 115.0 122.6 124.0
2020 124.0 112.1 124.1 129.3
2021 128.3 126.9 136.0 132.6
2022 138.4 130.5 146.7 144.5

Market Composition

Yield by Popular Postcode (Flats):

Postcode20172018201920202021
EH48 7.50% 7.20% 7.20% 7.00% 6.8%
EH49 5.10% 5.30% 5.10% 5.20% 4.8%
EH54 7.00% 6.80% 7.10% 6.70% 6.7%
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