As property market restrictions begin to ease across the country, WILLIAMS MEDIA spoke to Kay & Burton Managing Director, Ross Savas about last weekend’s open houses and the Melbourne luxury property market.

“I think the future looks bright for the Australian property market.”

Australia, with its great health system, the way we have managed the coronavirus pandemic, fresh air, and space, is indeed ‘The Lucky Country’. I believe there is no better country in the world.

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Kay & Burton has invested millions of dollars and many years building their global relationships and even now they continue to invest heavily in technology and innovation. Kay & Burton offers a complete service for people moving from overseas, introducing buyers to doctors, schools, lawyers and banks in their area.

With buyers from around the world wanting to settle their families in Australia 30% of our enquiry is from Expats with additional strong enquiry from HNW individuals. 

It seems most of the expats in New York, London, Hong Kong, and more recently Singapore, want to come home. 

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When Australian borders re-open I feel there will be a huge influx of HNW individuals wanting to move here, which will help to stimulate our economy. The East Coast will prosper with it's quality retail experience, leading schools, array of sporting events, medical facilities and excellent arts and cultural scene.  

That said, there was a large turnout of people for the Open Houses this past weekend. Even with the ‘new norm’ of strict COVID-19 guidelines, all the opens had a minimum of 10 people through them. 

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There is not a lot of stock coming onto the market, resulting in enormous pent up demand in the local market for a few reasons. 

• More and more property owners in the top end of the market are holding onto their property and passing it down to the children instead.
• Returning expats and overseas buyers do not have a property to list when they purchase a new home.
• Many people sold their homes late last year and early this year and are still looking for a property.

I see a lot of positivity in the market. The real buyers want to transact and with interest rates at an all-time low sellers want to sell for a reason be it to downsize, upsize or move interstate.

The current market conditions suit Kay & Burton perfectly well as we are a boutique agency specialising in the quality end of the market.

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