What Will Cause The Next Property Crash? with Davy Hutton

12/02/24 • 63 min

In this episode of the Scottish Property Podcast, we welcome back Davy Hutton, an experienced property developer and entrepreneur, to discuss the latest trends in the property market, political developments, and their implications for landlords, investors, and tenants. From Scotland’s rental market shifts to national economic policies, Davy provides a sharp, unfiltered perspective on the challenges and opportunities shaping the industry.

Episode Highlights:

Labour’s First Budget and Its Impact on Property:
- Discussion on how the budget is affecting small and medium-sized businesses, particularly through increased National Insurance contributions and rising wages.
- Why businesses need to adapt to survive in this shifting economic climate.
Property Market Trends in 2023:
- Surprising regional rent fluctuations: Glasgow shows rent corrections, while Aberdeen leads with a 4.4% increase in rental growth.
- How interest rate changes are affecting landlords and tenants differently depending on mortgage types.
The Reality of Rent Controls:
- Insights into Scotland’s proposed rent caps, allowing local councils to limit rent increases to CPI + 1% (capped at 6%).
- The potential impact on private landlords and the housing supply crisis.
Built-to-Rent Developments Stalling in Scotland:
- Analysis of why large-scale institutional investors are pulling out of Scotland due to rent control policies.
- What this means for the £2 billion in stalled housing projects and the wider economic impact.
Challenges Facing Landlords and Tenants:
- The widening gap between property values and earnings, making homeownership increasingly unattainable for many.
- The role of private landlords in providing housing for tenants who can’t access social housing.
Lessons from Real-Life Property Scenarios:
- David shares personal stories of buying, refurbishing, and renting out properties, highlighting the importance of honesty, reputation, and transparency in deals.
- The growing appeal of assisted sales strategies and their ethical implications.

Davy Hutton’s insights highlight the challenges and opportunities facing Scotland’s property market in the wake of political and economic shifts. From rent controls to stalled developments, it’s clear that adapting to these changes is crucial for landlords, investors, and developers.

--------------------------------------------------------- Prime Property Auction: www.instagram.com/primepropertyauctions/ John: www.instagram.com/john_property_auctioneer/ Luis: www.instagram.com/luis_property_auctioneer/ Visit Prime Property Auction website: https://primepropertyauctions.co.uk/ ------------------------------------ Follow us on all of our social media accounts: https://linktr.ee/scottishpropertypodcast **DISCLAIMER**Please do your own due diligence on any of our guests you may decide to do business with. We interview in good faith. However, we cannot be held responsible for any credibility issues that may arise. 🤝 Visit one of our monthly networking meet-ups. We run them on the 1st Wednesday of each month and have some fantastic guest speakers.🎟 ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Book your place at the networking events here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⭐️⭐️⭐️⭐️⭐️ Hope you find content useful and we would really appreciate it if you could leave a review on Apple podcasts or Spotify. Connect with us on social media:🔗 ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Join our private Facebook group ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ 🔗 ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Follow us on Instagram ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ 📩 Email us: [email protected] [email protected]

Episode Highlights:

Labour’s First Budget and Its Impact on Property:
- Discussion on how the budget is affecting small and medium-sized businesses, particularly through increased National Insurance contributions and rising wages.
- Why businesses need to adapt to survive in this shifting economic climate.
Property Market Trends in 2023:
- Surprising regional rent fluctuations: Glasgow shows rent corrections, while Aberdeen leads with a 4.4% increase in rental growth.
- How interest rate changes are affecting landlords and tenants differently depending on mortgage types.
The Reality of Rent Controls:
- Insights into Scotland’s proposed rent caps, allowing local councils to limit rent increases to CPI + 1% (capped at 6%).
- The potential impact on private landlords and the housing supply crisis.
Built-to-Rent Developments Stalling in Scotland:
- Analysis of why large-scale institutional investors are pulling out of Scotland due to rent control policies.
- What this means for the £2 billion in stalled housing projects and the wider economic impact.
Challenges Facing Landlords and Tenants:
- The widening gap between property values and earnings, making homeownership increasingly unattainable for many.
- The role of private landlords in providing housing for tenants who can’t access social housing.
Lessons from Real-Life Property Scenarios:
- David shares personal stories of buying, refurbishing, and renting out properties, highlighting the importance of honesty, reputation, and transparency in deals.
- The growing appeal of assisted sales strategies and their ethical implications.

Previous Episode

How to Transition From Trades to Property Development with Ian Lindsay

In this episode of the Scottish Property Podcast, we welcome Ian Lindsay, an experienced builder and property developer, to discuss his journey from starting out as a young apprentice to becoming a seasoned developer with a focus on extensions, renovations, and new builds.

Ian shares his insights on building a successful career in construction, managing challenges in the industry, and transitioning to new opportunities in property development. This episode is packed with advice for tradespeople, property investors, and aspiring developers.

Episode Highlights:

Starting From Humble Beginnings:
- Ian shares his early experiences as a school leaver, entering an apprenticeship at 16 and working in a variety of construction roles across Scotland.
- The lessons learned from his early days in construction, including respect, work ethic, and craftsmanship.
The Transition to Self-Employment:
- Ian recounts the journey of going self-employed at a young age, taking on small jobs and building a reputation in the Hamilton area.
- The evolution from small-scale projects to larger extensions and renovations over the years.
Key Challenges in the Industry:
- Labour shortages and the changing attitudes of workers over the decades.
- Managing customer expectations and navigating difficult clients.
- The importance of maintaining a reliable and skilled team.
Mental Health and Resilience in Construction:
- Ian opens up about his struggles with burnout and the toll of balancing a demanding career with personal life.
- How goal-setting, self-development, and mental resilience helped him turn things around.
Entering Property Development:
- Ian’s move into new build projects, starting with acquiring land, navigating planning permission, and tackling construction challenges.
- High-level insights into cost management, planning for contingencies, and learning from setbacks on new build sites.
Tips for Aspiring Developers and Tradespeople:
- The importance of building strong relationships with agents, tradespeople, and suppliers.
- Why attention to detail, clear communication, and professionalism are key to long-term success.
- The value of diversifying projects, including exploring opportunities in commercial property.

Whether you’re a tradesperson looking to expand your skills, an investor exploring development opportunities, or someone navigating the challenges of the building industry, Ian’s story offers valuable lessons on perseverance, professionalism, and the power of building strong relationships. Tune in to learn how you can apply these insights to your own journey!

--------------------------------------------------------- Prime Property Auction: www.instagram.com/primepropertyauctions/

John: www.instagram.com/john_property_auctioneer/

Luis: www.instagram.com/luis_property_auctioneer/

Visit Prime Property Auction website: https://primepropertyauctions.co.uk/

------------------------------------

**DISCLAIMER**Please do your own due diligence on any of our guests you may decide to do business with. We interview in good faith. However, we cannot be held responsible for any credibility issues that may arise.

🤝 Visit one of our monthly networking meet-ups. We run them on the 1st Wednesday of each month and have some fantastic guest speakers.🎟 ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Book your place at the networking events here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

⭐️⭐️⭐️⭐️⭐️ Hope you find content useful and we would really appreciate it if you could leave a review on Apple podcasts or Spotify.

Connect with us on social media:🔗 ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Join our private Facebook group ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

🔗 ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Follow us on Instagram ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

📩 Email us:

[email protected]

Next Episode

The Highs and Lows of Scaling a Property Business in Scotland with John Cox and John Morris

In this episode of the Scottish Property Podcast, we’re joined by two seasoned property professionals, John Morris and John Cox. Together, they share candid insights into the highs and lows of building and scaling their respective businesses, managing teams, navigating market challenges, and finding balance between personal and professional life. Whether you're a property investor, developer, or entrepreneur, this episode is filled with practical advice and real-world stories to inspire your journey.

Episode Highlights:

Starting and Scaling Property Businesses:
- John Morris shares how Prime Property Auctions scaled aggressively from a two-person attic operation to a 15-strong team in a city-centre office.
- John Cox discusses Cox and Co’s evolution into a multi-service property business, offering lettings, estate agency, mortgages, and investment services.
Building Effective Teams:
- Strategies for recruiting, retaining, and motivating staff, including commission structures and fostering collaboration.
- How autonomy and a supportive team culture drive better results in the workplace.
Balancing Work and Life:
- Both guests reflect on the challenges of maintaining work-life balance while running growing businesses.
- The importance of setting boundaries, such as avoiding work calls on weekends and prioritising family moments.
Navigating the Scottish Property Market:
- The impact of economic conditions, interest rates, and buyer behaviour on property sales and auctions.
- Why some properties remain unsold and the strategies used to overcome these challenges.
Marketing and Networking:
- The importance of leveraging social media and organic content to build brand presence.
- How networking events and creating a personal brand contribute to long-term success.
Key Advice for Aspiring Entrepreneurs:
- John Morris emphasises the importance of reinvesting in your business for growth.
- John Cox highlights the value of building trust and relationships over time for sustainable success.

This episode offers an honest and inspiring look at the journey of scaling property businesses, with valuable lessons on teamwork, work-life balance, and navigating market challenges. Whether you’re just starting out or looking to grow your operations, the insights from John Morris and John Cox will help you make smarter decisions and build a sustainable business. Don’t miss this episode packed with practical tips and real-world experience! Follow John Cox and Cox & Co: www.linkedin.com/in/john-cox-coxandco-scotland/ www.instagram.com/coxandcoscotland www.tiktok.com/@coxandco www.facebook.com/CoxandCoScotland Follow John Morris: www.instagram.com/john_property_auctioneer www.tiktok.com/@john_property_auctioneer -------------------------------------------------------------- Prime Property Auction: www.instagram.com/primepropertyauctions/ John: www.instagram.com/john_property_auctioneer/ Luis: www.instagram.com/luis_property_auctioneer/ Visit Prime Property Auction website: https://primepropertyauctions.co.uk/ ------------------------------------ #scottishpropertypodcast #propertyinvestment #realestate #propertybusiness #businessgrowth #teammanagement #worklifebalance #propertyauctions #entrepreneurship #networkingevents #scottishhousing