West Lothian

Robert Young

Robert Young - The Key Place

“The rental stock in central Scotland is improving through a combination of the impact of Brexit and the introduction, nearly 2-years ago now, of the Private Residential Tenancy with its 28-day notice period for tenants, which is resulting in stronger demand/longer rental periods for better quality properties and weaker demand/shorter rental periods for poorer quality ones. In addition, we are finding that rent levels are following this trend, so they are increasing for better stock and staying relatively static for less good stock. It would be worth landlords taking this into account next time there is consideration given to improving the condition of one of their properties.”

Market Overview - Q3 2019

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 £494 -3.5% 9.5% 10.8% 25 -8 26% 65%
2 bed £626 0.2% 14.9% 18.8% 29 1 20% 59%
3 bed £780 8.5% 22.1% 24.6% 29 -2 23% 60%
4 bed £1,141 12.0% 32.5% 39.8% 29 -2 20% 60%
Total £711 2.2% 16.6% 22.0% 29 -1 22% 60%

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  

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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