The Agency's Michael Paproth has over 25 years experience in real estate, building a reputation for honesty, reliability and professionalism that saw him and his team complete sales totalling over $115,000,000 for 2019.

Michael’s team of sales and marketing professionals focus on the Inner Bayside suburbs of Port Melbourne, Albert Park and St Kilda West where they hold the top 2 sales in St Kilda West, the 4th highest sale in St Kilda and 4 of the top 10 highest sales in Port Melbourne.

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Image: Team Paproth - Michael Paproth and Emily Adams Source: Michael Paproth

Recent awards include leading sales person at Saint Moritz, the luxury St Kilda development, with over $50,000,000 worth of sales in 2 months.

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

The luxury market in Melbourne’s inner bayside markets has stabilised after the initial lock down. As we prepare for the balance of this current lockdown and with possible further restrictions on buying and selling, the buyer pool looking for premium homes is building and jostling for position for when the market reopens in what is hoped to be at the start of the Spring market.

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Image:119 Ashworth Street Albert Park for sale by Michael Paproth and Emily Adams Source: The Agency

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

I’m recommending to all clients to hold fire for the time being and be ready for what I believe will be a very strong Spring 2020 market. So many astute clients are saying that there has never been a better time to scale up, with interest rates low for the foreseeable future and a new normal that we are all now reasonably used to, I think fundamentally real estate in the $3 million plus range will be an attractive safe haven for owners.

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Image: Father - Son trip to San Francisco for NBA Finals Source: Michael Paproth

What advice do you give buyers?

If you can buy and your finance is current, don’t delay. We sell homes and homes are for the long term. Real estate was never meant to be a ‘get rich quick scheme’. So it remains, if you want to secure a great piece of property in the most enviable area of the most liveable City in the world, then don’t delay. What Covid 19 has shown us that life is way too short to live in an area that isn’t perfect! The inner-city Bayside area of Melbourne is perfect.

What are vendors saying?

Vendors are asking about timing. Do we wait whilst current trading restrictions are in place or do we go now to take advantage of low volumes of competing homes?

What are buyers saying?

Buyers are asking ‘will there be greater volumes’ when restrictions are lifted. The answer is an obvious yes! But there will also be more market participants. There seems to be some value buying at the moment for those with fundamental accommodation requirements.

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Image: James Paproth training hard. Source: Michael Paproth

What changes (if any) have you noticed in buyers and sellers since the COVID-19 situation began?

Caution. We are seeing more caution from buyers and sellers. We are also seeing a high degree of motivation. If you are on the market at the moment to sell, chances are there is a strong reason for doing so. The contrary is also true – if you are buying, there’s a need.

There are not too many buying or selling with just a toe in the water, on either side of the equation.

Are the buyers in your area changing?

We are seeing an incredible influx of returned expat buyers who have conceded that they are back in Melbourne for good or at least an extended period of time. I have recently sold a sub penthouse in Tim Gurners Saint Mortiz development to exactly that profile of client.

Where do you see demand coming from?

Demand, interestingly, is from the US and especially Hong Kong. I sense that the changing socio-political landscape in that Province and the accommodating policies of the Morrison Government will see a very steady and welcome flow of real estate investment dollars.

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Image: Sporting Family, Liv and James Paproth. Image: Michael Paproth

Are people typically looking to buy holiday/lifestyle homes or permanent residential?

 

We are seeing strong enquiry from these markets for established homes and also new, ultra high end luxury apartment residences to live in. These buyers are getting set to come home and or resettle into Australia’s best cities. Further, I urge the state government to support the efforts of our developers - who are amongst the best in the world and the construction industry to help drive the economy forward and ensure that the impending shortage of inner-city dwellings in 12-24 months is addressed now.

What are your interests outside of real estate? 

 

As a former basketball player (and I say ‘former’ with a very heavy heart…) I now spend my down time cycling with my 2 teenage kids who are avid cyclists and fitness fanatics. As a family we migrate every 10 weeks to our second home, Noosa – where the family's love for a warmer climate and cycling is indulged. Clearly the last 6 months has ensured that we never take that trip for granted again.

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Image: James Paproth, bike fitting. Source Michael Paproth

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

 

As an agent for clients of premium homes, I have learnt that they want someone at the other end of the phone just as they expect to communicate with their accountant, lawyer or private banker. A safe pair of hands who can execute is usually the brief.

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