West Lothian

Alistair J McMurdo

Alistair J McMurdo - Castlebrae Letting

“Another year ends in the ever changing world of property rental in West Lothian. With all of the changes imposed this year, we expected a turbulent ride, however, confidence in general remains high with many investors actually adding to their portfolios, seeing property as a sound long term investment. Strong trading in Q3 and Q4 reflects this. However, whilst demand is outstripping supply and rents are rising it is important to ensure we, as an industry, have an obligation to offer our clients good quality properties which are fully 'let compliant'.”

Market Overview - Q4 2016

BedsAverage
Rent
Rent Change
1yr
Rent Change
3yrs
Rent Change
5yrs
Av. TTL
(days)
TTL Change
YoY
Let within
a week
Let within
a month
1 bed £469 1.7% 5.9% 0.6% 26 -9 13% 57%
2 bed £596 4.9% 9.8% 13.3% 30 -5 4% 60%
3 bed £722 1.5% 17.0% 15.3% 25 -15 26% 64%
4 bed £1,016 13.6% 14.7% 24.8% 24 -16 14% 71%
Total £669 4.9% 10.6% 14.4% 28 -9 11% 61%

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

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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