Budget Rumours Every Property Investor Needs to Hear with Nick and Steven

Nov 3, 2025

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In this episode of the Scottish Property Podcast, Nick and Steven are back together for the November 2025 Market Update — discussing everything from their recent trip to Dubai to the latest UK housing data, rental trends, and budget rumours that could shake up the property market.

From reflections on life abroad to concerns over government tax policy, this episode dives deep into what’s really happening across Scotland’s property landscape — with candid insights, real-life examples, and a few laughs along the way.

🎙️ Episode Highlights:

🌴 Dubai Reflections: Life, Lifestyle & Lessons

Both Nick and Steven coincidentally ended up staying in Dubai at the same time — just a few doors apart.
Reflections on Dubai’s appeal for entrepreneurs: sunshine, safety, and tax benefits.
The downsides: relentless heat, heavy traffic, and a lack of community or “soul”.
Both agree that despite the hype, Scotland still feels like home — valuing fresh air, space, and local connection over tax breaks.

🏡 Scottish Housing Market Update

Zoopla reports: buyer demand down 8% year-on-year, sales agreed down 3%, marking the first decline in two years.
Scotland bucks the trend, with sales up 3% and house price inflation steady at 2%.
Glasgow up 2.1%, Edinburgh up 1.6% year-on-year.
Signs of a slower market rather than a crash — more cautious buyers and longer sale times.
Average selling time now 37 days, up 10%, showing steady but slower movement.

🔨 Steven’s Property Sales Update

Currently selling three renovated cottages, each around the £200k–£240k price point.
Despite strong locations and quality finishes, sales slower than expected.
Common feedback: EPC ratings, minor snagging, and general buyer caution.
Example of real-time challenges facing property flippers in a softening market.
Highlights the importance of timing, presentation, and patience in a cooling climate.

🏘️ Rental Market Insights

Rightmove rental tracker:
- Average UK rent outside London at a record £1,385 per month, up 1.5% in Q3.
- In Scotland, rents are still rising but at a slower pace.
Tenant demand down 14%, while supply up 9% — more choice for renters.
Landlords urged to redecorate and refresh properties to stay competitive.
Quality homes still rent quickly; tired stock lags behind.
Strongest demand for rentals under £1,000 per month — affordability is key.

💼 Budget Rumours & Government Policy

Discussion ahead of the November 23rd UK Budget, with rumours of:
- VAT threshold dropping from £85k to £30k — could hit small tradesmen and drive up refurb costs.
- Income tax increase from 20% to 22% (England only).
- National Insurance on rental income (8%) — potential game-changer for landlords in personal names.
- Capital Gains Tax on main homes worth £1.5m+ — targeting the ultra-wealthy.
Nick and Steven discuss how these could trigger a mass landlord exodus, reduce supply, and hurt the rental market.
Concern that government policies are anti-business and anti-growth, discouraging investment in the UK.

📈 Economic Overview

Inflation: steady around 3.8%.
Interest rates: held at 4% by the Bank of England.
Mortgage rates easing slightly, providing some relief for buyers.
UK economy flat, with minimal growth heading into winter.
Sentiment: cautious optimism — no crash, but slower movement and more scrutiny on deals.

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