What's been happening in the West Lothian property market in 2022?
Property Market Data - Key Points
- Sales volumes in West Lothian were down 28.3% year-on-year during November 2021 - April 2022
- New property listings in West Lothian were up 8.3%
- The average selling price of property in West Lothian was £264,700 – a rise of 27.9%
- West Lothian properties went under offer in a median time of 13 days
- Buyers paid 107% of Home Report valuation on average for homes in West Lothian
- 34.3% of homes for sale in West Lothian went to a closing date
Average property prices rose across West Lothian, as buyers bid competitively
During the six months of November 2021 – April 2022, the average selling price of property in West Lothian rose 27.9% year-on-year, to £264,700.
During this period, West Lothian home buyers paid 107% of the Home Report valuation on average, an increase of 5.6 percentage points year-on-year, and significantly up on the 99.2% average paid two years ago for homes in this area.
34.3% of homes for sale in West Lothian went to a closing date during November – April (up from 19.6% during the same period last year, and 12.6% the year before), which may be a causing factor in the considerable rise in selling prices, as buyers faced stronger competition to secure a property.
Sales volumes decreased, but more properties came to market
Sales volumes across West Lothian were down 28.3% over November-April, which is to be expected given that this spans traditionally the quietest period of the year for the housing market overall.
In general, West Lothian has seen a rise in its popularity post-pandemic, as home buyers have increasingly sought larger, more affordable homes to accommodate hybrid working, that also offered excellent commuter links into Edinburgh.
The most popular property type was three-bedroom houses in Livingston, which sold in the highest volumes. Buyers were clearly keen to secure a home of this kind, with these properties attaining an average of 108.3% of their Home Report valuation – a 6.6 percentage point increase year-on-year.
Sellers in West Lothian were more active than buyers however, with new property listings up 8.3% year-on-year, which may have helped to cool the market, offering buyers more options when looking for their new home.
Properties sold faster, with larger towns in the highest demand
The median time for property to go under offer in West Lothian dropped to 13 days during November – April, which is seven days faster than the same time last year.
Paul Hilton, CEO of ESPC, said: “The past six months have been a very active period for West Lothian’s property market, with increasing volumes of properties coming to the market and a significant rise in the average property selling price across the region, and buyers paying more over the Home Report valuation across the board. While sales volumes have been lower overall, we have certainly seen more of an uplift in the opening quarter of 2022, which we would expect to see continue into the summer months.
“West Lothian offers a fantastic blend of more affordable properties along with great commuter links, making it a popular option for many buyers now looking for a home to accommodate hybrid working as well as family life. We’ve seen particular demand for the larger towns of Livingston and Linlithgow, which both offer fantastic commuter links across the Central Belt.
“If you are thinking of buying or selling a property in West Lothian, contact your local ESPC agent today.”
Find out more
ESPC is the home of property and we're here to help you with every step of your home buying and selling journey. If you're thinking of buying or selling a property soon, you can make use of our free phone service to be put in touch with a property expert to help answer your questions.
Want to find out how much your home is worth? Arrange a free property valuation with a solicitor estate agent today.
You may also be interested in...
ESPC House Price Report: April 2022
ESPC's House Price Report for April 2022 examines the latest housing market data from across Edinburgh, the Lothians, Fife and the Borders.
What is it like to live in West Lothian?
ESPC takes a closer look at why West Lothian is somewhere you should consider for your next home.
Exclusive houses and flats for sale
A great selection of properties on the market that are ideal for growing families, and they are all Exclusive to ESPC.
The best places to live near Edinburgh
Want to live in a commuter town close to Edinburgh, but not sure where's best? We share the best places to live near Edinburgh.