West Lothian

Callum McQueenie

Callum McQueenie - Mavor & Company

“Q4 began in the same, consistent fashion as we have seen throughout 2021 – low available stock and high demand, meaning shorter time to let throughout the county. Despite approaching a typically ‘quieter’ period, the rental market shows no signs of slowing up as throughout 2021 we have seen record numbers of enquiries. I believe the levels of demand will be matched in 2022. We found several landlords decided to sell their property at the start of 2021 after an uncertain 2020. A number of recent new instructions appear to show there is renewed confidence in the sector post pandemic.”

Market Overview - Q4 2021

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 £549 2.6% 17.1% 17.8% 11 1 47% 95%
2 bed £678 5.1% 13.8% 28.9% 14 -3 43% 89%
3 bed £831 3.1% 15.1% 32.7% 14 -3 27% 94%
All £769 2.5% 14.9% 31.5% 13 -3 40% 91%

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

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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