West Lothian

Callum McQueenie

Callum McQueenie - Mavor & Company

“The continued dwindling supply of available properties in the PRS has seen rental prices surge in Q2 with unprecedented amounts of enquiries being received. Some properties recently advertised were receiving close to 100 enquiries, proving demand in West Lothian remains high. More landlords now appear to be exiting the market, citing rising costs and continued legislative changes. Interest rates and current legislation appears to be deterring new investment in the sector in the short term. We noticed a slight increase in the turnover within our own portfolio in Q2, however, not close to levels we typically expect, adding to the shortage of available stock.”

Market Overview - Q2 2023

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 £599 5.5% 21.3% 40.3% 23 15 33% 60%
2 bed £759 9.2% 23.6% 39.0% 17 5 28% 72%
3 bed £978 14.3% 29.0% 53.1% 20 2 12% 88%
All £871 15.1% 27.7% 44.7% 19 7 24% 72%

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
2023 143.1 150.2    

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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