Unfortunately politics can’t be separated from economics; any change in policies produces winners and losers that affect the economy as a whole. That’s particularly true for the property sector which is acutely sensitive to employment levels and interest rates.
Apart from the independence decision, we’ve seen Mark Carney’s intervention this week:
http://www.telegraph.co....-out-big-mortgages.html
It makes no sense to ignore these factors when considering a potentially illiquid investment such as buy-to-let. On the whole, the inevitability of higher interest rates and the continuation of high unemployment (unless there’s a change of government) seem to make property a high-risk bet - at least, starting from here.
As for Scotland’s future; we’ve seen many opinion polls that make a Yes vote look unlikely (although still with a lot of undecided voters). On the other hand, the US presidential election had opinion polls showing the result ‘too close to call’ right up to the vote; but Obama still won by a landslide.
Although I’m not a Scot and live in Australia, I did grow up in the North of England and my political views nicely coincide with this article in the Guardian today:
http://www.theguardian.c...derate-social-democracy
However I am a retired geophysicist and I did work on North Sea oil exploration data throughout the ‘70s, ‘80s and ‘90s. I have no doubt whatsoever that there is tremendous potential still for Scottish waters. It’s not just the royalties that matter but the jobs. The growth in exploration and development that will come after independence will feed through into science, engineering, computing, programming, finance, transport, travel, education, medicine, infrastructure, logistics, etc.
I’m sure there are some crusty, rightwing old farts that will want to head for the nearest tax haven after independence but the growth opportunities will bring young people flooding in.
One of the good things about living in Australia is that I now know what a growing, resources-based economy looks like. It’s fairer and more optimistic.
Britain should decide whether it wants to remain an 80% service sector economy based on taking in each other’s paperwork; plus entertainment and advertising – not to mention London’s dominance: essentially based on money laundering (allegedly), tax avoidance (allegedly) and white-collar fraud (allegedly). The alternative is a true, regionally independent federal system for rUK and a balanced economy and society.