Kay and Burton’s Andrew Sahhar has been with the company for 13 years, becoming a Partner in January 2019.

Andrew has a Bachelor of Applied Science (construction management) from RMIT, working for international companies in the construction industry for 5 years after university as he worked his way up to a project manager position. 

His studies have focused on the importance of project estimating, architecture, site supervision, budget planning and control, all key to understanding clients and property and how best to facilitate the sales process.

WILLIAMS MEDIA spoke to Andrew about the impact of COVID-19 and the outlook for the market looking forward.

What are your predictions for the 2020 luxury market?

The Australian luxury property market has been remarkably resilient over the years. I see the luxury market trending sideways for 2020. 

The difference this time compared to the GFC is that we are experiencing an unprecedented health crisis which has led to a corporate crisis – this is not a banking crisis like we witnessed in 2008. If anything, banks are likely to lead the recovery, supported by the RBA keeping rates lower for longer - this bodes well for the luxury property market in the short to medium term.

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Image: Holidaying in Europe.  Source: Andrew Sahhar

Have you noticed any changes in the last couple of weeks with the easing of restrictions? 

Buyer interest remains strong for quality properties – this is largely due to market forces, with reduced supply meeting somewhat reduced demand in the luxury end. The easing of restrictions has a reduced impact on luxury properties compared to lower price points, with the majority of inspections at Kay and Burton conducted by private appointment.

What advice you would give to vendors for the best outcome?

I always think it is best to present your property to its best ability. Stylists are competitively priced at the moment and can add a lot of value for a small outlay.  

Kay and Burton also has a Concierge service that can manage tradespeople to prepare your property for sale.  The Concierge service has been popular with both buyers and vendors.

Selecting the appropriate agent is extremely important.  If the agent is active in your area and can introduce a buyer from their database it will increase your chances of a successful result.  

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Source: Andrew Sahhar 

What advice do you give buyers?

As supply levels are low, if you find a home that is within your range and ticks most of the boxes you should consider making an offer.

What are vendors saying?

In the current pandemic, vendors are understandably cautious about marketing their properties.  As supply levels are low and demand is high it is a good time to market your property.   

What are buyers saying?

Buyers are asking if stock levels will increase and what is going to happen to pricing.

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Image: Sailing with Elly. Source: Andrew Sahhar

Have you noticed any changes in buyers and sellers since the COVID-19 situation began?

I have noticed a lot of movement with buyers and sellers.  After the lockdown people have realised what they require in their home. The older demographic realise they do not want the burden of high maintenance homes after going through a period with no cleaners and gardeners.  Also, younger families are realising after being together, working from home and home schooling, that they need more space to provide separate living areas for adults and children.  Younger families looking to upsize want home offices or studies.

Where do you see demand coming from?

There is movement from local buyers looking to upsize or downsize.  We are receiving a significant amount of enquiries from America and Asia at the moment from ex-pats doing research to plan their move back to Australia.  Australia is perceived as a safe haven.  

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Image: Elly and Andrew Sahhar Wedding Day.  Source: Andrew Sahhar

What are your interests outside of real estate?

I was lucky enough to get married in December in the Botanical Gardens just before the pandemic started.  I have felt for friends who have had to cancel or postpone their weddings this year. 

My hobbies are tennis, skiing, reading and travel (might be a while before the next trip!).  My wife and I often play tennis on a Sunday at Royal South Yarra Tennis Club.  

What is one thing you have learned over your years as a luxury agent?

It is important to listen to people and always be honest and ethical.  Building long term relationships is extremely important to sustain a long term career in real estate.  I have built my career on these personal values.  

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