Exclusive View | Q&A Scott Timbrell, Partner, Head of Metropolitan Sales NSW & Western Sydney
It’s undeniable when you look around Greater Sydney that significant changes are happening – from the record levels of private and public infrastructure investment to the ever-increasing vibrancy of Parramatta.
Scott Timbrell, Partner, Head of Metropolitan Sales NSW & Western Sydney, talks to us about what these changes mean and where he sees opportunities for investors and developers in metropolitan New South Wales.
First off, tell us a bit about yourself. How did you come to work in property?
I originally worked in advertising, but always liked the idea of going into sales in some capacity. The concept of creating your own success through hard work and determination really appealed to me, and property allowed me to pursue this.
Why did you want to join the Knight Frank team?
The fact Knight Frank is a global company, but privately owned is what initially drew me to the business.
Having previously been exposed to the business management side of things, I was looking to take on more of a management role and Knight Frank provided me the opportunity to do so while still being able to stay involved in the sales and transactions.
Now onto the market. What opportunities do you see in the NSW metropolitan market?
Western Sydney is in the midst of huge infrastructure spend, from the new Western Sydney airport and new metro rail to the light rail. This is significantly improving connectivity throughout Greater Sydney and is fundamentally shifting the way investors and developers view opportunities in different markets across Sydney.
The rezoning of large amounts of land surrounding these infrastructure projects is continually creating new prospects for developers. It’s a really exciting time to be in the market and I can’t wait to see what it will be like in five to ten years when most of the projects are complete.
What trends are you seeing in your market?
With the residential market tapering off slightly, especially in Western Sydney, we are seeing a lot of developers who have typically focused on metro market looking at opportunities closer to the Sydney CBD. However, this is also creating prospects for developers looking to capitalise on these market conditions.
We have also been working with a number of developers to co-ordinate bulk unit sales, which we are proving popular amongst high-net-worth-individuals and institutions. Working closely with our eastern seaboard teams, we have been able to package together portfolios consisting of units from Sydney, Melbourne and Brisbane to provide a diverse offering for prospective buyers.
Where do you see the market heading in the next 12-18 months?
With the state and federal elections this year, I expect we will see similar conditions to where the market is now, although it may continue to decline ever so slightly. As we head into 2020, I think conditions will stabilise a bit more and the market will start to rebound.
We are experiencing strong population growth and Australia has sound economic fundamentals, so it will remain a solid prospect for both international and domestic investors and developers.
How do you see the role of the agent changing?
To be completely honest, I don’t think the role of the agent will change much. I believe there will always be the need for a third party to negotiate between the purchaser and vendor.
What is key to success in your role?
Hard work and determination. If you put in the time and effort, be proactive in your canvasing, build relationships and create your own market, success will follow.
What’s the best career advice you’ve ever been given?
It sounds cliché, but nothing comes to those who wait. This is particularly relevant in real estate. You need to be as proactive and forward thinking as possible to make differentiate yourself and be successful.
On a more personal note…If you weren’t in property, what would you be doing?
I would love to be a professional surfer or snowboarder. Probably don’t have the skills for either, but the lifestyle definitely appeals to me.
What’s your ideal holiday?
My ideal holiday would have to be spending time surfing in Hawaii’s North Shore, in winter when the swell is best, followed by snowboarding with my family in Colorado.