{"id":39882,"date":"2022-08-12T09:27:29","date_gmt":"2022-08-11T21:27:29","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=39882"},"modified":"2022-08-12T09:27:29","modified_gmt":"2022-08-11T21:27:29","slug":"superstar-buyers-agent-simon-cohen-reveals-weird-real-estate-markets-best-buys","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/superstar-buyers-agent-simon-cohen-reveals-weird-real-estate-markets-best-buys\/","title":{"rendered":"Superstar buyers agent Simon Cohen reveals \u2018weird\u2019 real estate market\u2019s best buys"},"content":{"rendered":"

PHOTO: Simon Cohen<\/strong><\/p>\n

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In his 13 plus years as a buyers agent, Simon Cohen has seen nothing like it \u2013 not even post-GFC.<\/p>\n<\/div>\n

The star of the hit reality TV show\u00a0Luxe Listings Australia\u00a0started out as a buyers agent in 2009, when few people knew what that was.<\/p>\n

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Gavin Rubinstein says Luxe Listings Sydney has made his business \u2018magnet of attraction\u2019 | WATCH<\/a><\/h2>\n<\/header>\n<\/div>\n

After \u2018begging and pleading\u2019 prospective clients to give him a chance on his first jobs, the company he founded Cohen Handler has since negotiated 100s of millions of dollars worth of deals<\/p>\n

And Cohen can understand now why many potential buyers are stumped by a market which whizzed along at 30 per cent growth across much of the country last year and has now slammed on the brakes, due in part to massive and previously unexpected interest rate hikes.<\/p>\n

\u201cIt\u2019s actually rather weird,\u201d Cohen said.<\/p>\n

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\"Luxe<\/div>\n

Luxe Listings Sydney stars (L to R) Simon Cohen, D\u2019Leanne Lewis and Gavin Rubinstein.<\/strong><\/em><\/div>\n

\u201cThe good properties are still selling but those with warts are hanging around. I was looking at two bedroom units in Bondi the other day and one sold easily while another a few blocks ago with a few issues is still on the market.<\/p>\n

\u201cIt\u2019s those homes across the board with a few issues that are struggling to sell, the homes with 100 stairs to the front door aren\u2019t flying off the shelf anymore like they were a year ago.<\/p>\n

\u201cHowever the top end of the [Sydney] market remains strong.\u201d<\/p>\n

In a podcast interview with\u00a0Yellow Brick Road Home Loans<\/a>\u00a0Executive Chairman Mark Bouris on his\u00a0Property Insights podcast<\/a>, Cohen also revealed his thoughts on the other major metropolitan markets where Cohen Handler has offices.<\/p>\n

BRISBANE REAL ESTATE BUYING ADVICE<\/b><\/h3>\n

\u201cThe Brisbane<\/a> market is still quite strong,\u201d Cohen said.<\/p>\n

\u201cWhen we opened an office there six years ago, we were buying $450,000 to $1m homes, now we are buying four, five six million dollar homes, prices have increased quite dramatically there.\u201d<\/p>\n

\u201cI would buy a house with land if I was buying there now. If you\u2019re looking at buying an apartment the closer you can get to New Farm, Ascot and those blue chips areas the better, if you\u2019re buying a house I would go further away from the city.\u201d<\/p>\n

Cohen said the mentality towards the property journey differed greatly between Sydney and Brisbane.<\/p>\n

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Simon Cohen and Brisbane agent Jordan Navybox of Cohen Handler. Picture: Ali Rasoul..,<\/strong><\/em><\/div>\n

\u201cHousing is so expensive in Sydney and more people are happy to live in an apartment,\u201d he said.<\/p>\n

\u201cIt\u2019s more recognised as the thing to do, live in an apartment, in Sydney than Brisbane.<\/p>\n

\u201cIn Sydney people sell their big houses and downsize in Brisbane not so much.<\/p>\n

\u201cIn Sydney you start and end up living in an apartment, in Brisbane you buy a house earlier and sell later.<\/p>\n

PERTH REAL ESTATE BUYING ADVICE<\/b><\/h3>\n

On the podcast, Bouris put it to Cohen that the Perth market was still charging along, however the founder and CEO of Cohen Handler said he thought that was no longer the case.<\/p>\n

\u201cIve spoken to a lot of vendor agents over there lately, and they are telling me the market has softened,\u201d he said.<\/p>\n

\u201cDays on market have blown out and homes are taking longer to sell. What was previously selling in four weeks might now be taking four to six months \u2013 that is unheard of in Sydney.\u201d<\/p>\n

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\"Finance<\/div>\n

Finance guru Mark Bouris.<\/strong><\/em><\/div>\n

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PROBLEM AREAS TO BUY IN REAL ESTATE IN<\/b><\/h3>\n

Areas with a high volume of units, can be problematic to buy in, Cohen said.<\/p>\n

\u201cI wouldn\u2019t buy at the low end of the market anywhere or anywhere there is a lot of competition [for buyers] a lot of units,\u201d he said.<\/p>\n

\u201cI\u2019m talking about the Moore Parks of Sydney, the high rises in Brisbane, the South Banks of Melbourne, where prices might drop dramatically.<\/p>\n

READ MORE VIA NEWS.COM.AU<\/a><\/p>\n

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