Rob discusses the negative impact of rent controls on house building in Scotland, highlighting how rent controls imposed by the Scottish government have led to a significant decrease in the number of new homes being started and completed.
The statistics show a drop in housing construction across the board, including private sector and council homes. The episode emphasises how rent controls restrict the free market, leading to skyrocketing rents and discouraging investors from putting capital into the housing market.
KEY TAKEAWAYS
Rent controls in Scotland have led to a decrease in house building, with fewer new homes being started and completed.
The Scottish National Party (SNP) implemented rent controls, resulting in a drop in affordable housing budget and a surge in rent prices.
The extension of rent controls in Scotland is deterring investors from renovating or building new homes in the area.
Investment in built-to-rent properties in Scotland plummeted by 71% last year due to the impact of rent controls.
The Scottish government plans to make rent controls permanent in 2025, despite the negative consequences observed so far.
BEST MOMENTS
"Scotland is suffering from some of the largest rent rises anywhere in the UK."
"Rent caps basically where you're saying that you're only allowed to put up rents by X percent, you're not allowing the free market to do its job."
"The fact that Scotland is going to have a flight in this capital because of the rent controls, it's just not going to help Scotland at all."
"They say that investment in built to rent properties in Scotland slumped 71 percent last year."
VALUABLE RESOURCES
https://www.msn.com/en-gb/money/other/house-building-in-scotland-nosedives-after-nicola-sturgeon-s-rent-controls-figures-show/ar-BB1oRxOg?ocid=winp2fptaskbar&cvid=f492b5949296431fb18cf80d0259f5c5&ei=20
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