West Lothian

Callum McQueenie

Callum McQueenie - Mavor & Company

“Q3 continued to be busy where record levels of enquiries continue for the limited stock available in the sector. With the COLA being extended until March, and while we await more details on the government’s ‘Deal for Tenants’, landlords now need to be considered to avoid the continuing trend of landlords leaving the sector. With a lack of stock available in the market, tenants who have been issued with a Notice to Quit are finding it more difficult to find alternative, affordable accommodation; meaning they are unable to vacate at the end of the notice period, adding pressure onto the sector, landlords and the FTT.”

Market Overview - Q3 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 £617 9.0% 20.5% 41.5% 13 -1 45% 91%
2 bed £805 12.7% 28.8% 46.9% 13 -1 40% 92%
3 bed £1,070 8.9% 48.8% 68.2% 16 3 29% 81%
All £922 8.3% 32.5% 46.1% 15 1 35% 88%

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 143.1 150.2 159.0  

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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