West Lothian

Callum McQueenie

Callum McQueenie - Mavor & Company

“After a quiet start to 2024, normal service seems to have resumed in Q2 with a spike in demand for available properties. Landlords exiting the sector seems to have eased since the turn of the year, hopefully as a result of the end of the COLA legislation. With a housing emergency being declared at local authority and now government level, the issues are well documented; however little mention of solutions from the relevant authorities seem to be forthcoming. With positive signs that the sector seems to be stabilising after a turbulent 3 years, action is now needed to keep landlords and attract new investors into the PRS.”

Market Overview - Q2 2024

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 £690 15.2% 35.0% 49.7% 11 -12 36% 100%
2 bed £838 10.4% 34.1% 56.3% 14 -3 24% 89%
3 bed £1,038 6.1% 37.1% 62.7% 25 5 31% 85%
All £969 11.3% 45.3% 61.2% 16 -3 26% 90%

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 143.1 150.2 159.0 159.0
2024 160.5 167.1    

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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