Michael Gibson and Robert Fletcher of Kay & Burton achieved a number of sales of note in the closing stages of 2019 in Toorak, including 7 Ottawa Road (pictured below) in the $11m - $12m range.  Buyer interest was gathered from local, interstate and international families looking for a large luxury home.

A former director and managing director of Kay & Burton, Michael has some 40 years experience marketing quality properties, while Robert is a former General Manager of Ferrari and Maserati in Melbourne, and brings 20 years experience from the world of luxury cars to the world of luxury real estate.

WILLIAMS MEDIA spoke to Michael and Robert about the outlook for the luxury market in 2020 and the future of luxury.

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For more information read our article on 7 Ottawa Road Toorak here.

What are your predictions for the 2020 luxury market in your area?

The luxury market in the first 8 weeks of 2020 started as we left off, with renewed confidence, particularly at the higher price points.  We have had good traction with buyers and their interest for a couple of properties that we have available in the $6m to $30m range.  Whilst the current climate and pandemic is meaning we are evaluating our strategy weekly, there appears to be emerging interest from the Chinese community which we envisage will grow dramatically once the borders are re-opened and they are able to move here.

What are your buyers saying?

We have found buyer activity consistent through March as we have since the start of the year.  We anticipate, given previous experience in unusual market climates, that buyers will continue to participate.  There will be those that still need to buy and those that seek available opportunities who will be seen in times of boom to have made excellent judgement. 

Are buyers downsizing or upsizing?

The opportunity of the downsizing market is still very active.  We continue to see a steady enquiry rate from families with a large home looking for their next step through retirement with a more manageable space and lifestyle.  We expect that this trend will continue for the next few years at a minimum.

What does the future of luxury look like in Toorak?

There is a handful of homes that have been completed recently in Toorak which give an excellent insight into the future lens of grand luxury homes.  Apart from the obvious size, the overriding factor of what makes the new offerings so amazing are the levels of detail involved beginning in the design stage and through to the execution of the build.  They are luxury offerings that could be located in any of the most revered locations around the world and we are genuinely excited to show you all more of them soon.  

What do you enjoy doing outside of work?

Mike: “I am well renowned for planning my holidays a year in advance – I always have something to look forward to.  I spend a lot of my spare time with family whilst also enjoying golf, which is a passion that I enjoy a round of each week with some terrific mates.”

Rob: “Having a wife and two young kids – spare time is a rare commodity however, holidays together are wonderful.   Fitness and training for long distance triathlon is a passion and while long hours and a lot of commitment, I really enjoy being focused on constantly learning and improving.”

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