£120K Flats Now Worth £50K… Aberdeen’s Property Reality with Brian Smith

Описание: In this episode of the Scottish Property Podcast, Brian Smith joins the show to share a fascinating perspective on Aberdeen’s property market — shaped by decades of oil booms, crashes, and economic shifts.

From starting his career in finance at just 16 to becoming a Finance Director in oil-related businesses, Brian breaks down how global events have directly influenced local property prices — and how he’s used that knowledge to build a 17-property portfolio later in life.

This episode is packed with lessons on market cycles, strategy shifts, and long-term investing for generational wealth.

🔍 Episode Highlights:

🛢️ Aberdeen: The Oil Capital Effect
-Aberdeen’s rapid growth in the 70s–80s was driven by oil wealth and international investment
-The city became known as the “Oil Capital of Europe”
-Property prices have always been closely tied to oil jobs, investment, and global markets

📉 The Reality of Market Cycles
-The 1983 crash saw oil fall to $16/barrel
-Homeowners were forced to hand keys back to banks during mass job losses
-Similar downturns have occurred roughly every decade

🏠 Brian’s Early Property Wins
-Bought a semi-detached house for £42,000 in 1987
-Sold 3 years later for £61,500 (~50% uplift)
-Built his own home in Cults, total cost: £135,000, revalued at £175,000 on completion, peak home value reached £795,000 before later selling for £600,000

🧱 Building a Portfolio Later in Life
-Began serious investing around 2020 (age ~60). Now owns 17 properties, 15 Buy-to-Lets, 2 Serviced Accommodation units

🎯 Investing for the Long Term
-Original goal: replace income and preserve pension
-Now focused on, building generational wealth, passing assets to his son, using a company structure for tax efficiency