West Lothian

Callum McQueenie

Callum McQueenie - Mavor & Company

“Q3 continued to be a busy quarter with high demand for available properties. More tenants seemed to be on the move which has provided additional supply to the market, going against the trend of the last 12-24 months where tenants have chosen to stay put due to limited available properties and a surge in rental prices. New instructions have risen over the last 3-6 months with new landlords waiting in the wings for the right opportunities – again another positive sign for the PRS. There continues to be some concern amongst landlords over the Housing Scotland Bill and what this holds in 2025.”

Market Overview - Q3 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 £691 12.0% 39.9% 53.2% 16 3 27% 87%
2 bed £869 8.0% 38.8% 59.4% 17 4 22% 81%
3 bed £1,214 13.5% 55.6% 90.0% 22 6 19% 76%
All £1,017 10.3% 43.0% 66.7% 18 3 22% 80%

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 160.5 167.1 175.3  

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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