West Lothian

Callum McQueenie

Callum McQueenie - Mavor & Company

“Q4 has continued in the same fashion as the rest of 2024, with the expected rush to move before the festive period begins. We are still seeing a large volume of interest in all marketed properties, highlighting the sparse stock against an ever-increasing demand. Landlords leaving the sector appears to have now stabilised over 2024 as we await the publication of the Housing Scotland Bill next year. An increase in ADS from 6% to 8% provides another blow to a sector which needs to encourage, instead of deter, new investment as the housing emergency looks to continue into 2025.”

Market Overview - Q4 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 £667 3.3% 29.8% 51.6% 25 14 21% 79%
2 bed £855 3.3% 35.7% 52.7% 15 1 19% 94%
3 bed £1,071 -0.7% 41.9% 65.8% 26 9 18% 64%
All £938 1.7% 30.5% 55.3% 21 3 18% 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 160.5 167.1 175.3 161.7

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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