Cowdy Update
JANICE COWDY / Director
2023 started with a bang and the Cowdy team has worked hard to maintain excellent momentum, with some incredible properties listed and sold in the first half of this year.
In early February, we invited real estate coach David Palfreyman to join our team planning event along with a variety of other industry experts. Their insights left our agents inspired and well-equipped to apply some of the latest industry knowledge and innovations to their work.
As always, our award-winning property management team have been working hard to meet the needs of landlords and tenants while staying abreast of regulatory changes. In November last year, Housing Minister Dr. Megan Woods announced upcoming changes to the rental sector including the much-needed regulation of residential property managers, regulations around methamphetamine contamination and extending the timeframe for rental properties to comply with the Healthy Homes standard from 1 July 2023 to 1 July 2024 to ease some of the pressure on landlords.
The bill for the regulation of residential property managers is set to be introduced to Parliament this month. The first reading is due to take place in June and the legislation is set come into force mid-2026. We support the bill and have been pushing for it for some time, however we do feel the timeline to bring it into law should be much shorter.
Regulations are needed around what to do when residential rental premises are contaminated with methamphetamine to provide certainty and clarity for tenants and landlords. The submission period for public consultation on this issue ended on March 10, with analysis of the submissions and decisions and drafting of regulations by Cabinet due to take place until December.
As we enter the second half of 2023, we look forward to working with all our clients to achieve more great results throughout the remainder of the year. Please feel free to contact our team if we can assist with any of your upcoming property requirements.
In Loving Memory: Honouring the Legacy and Contributions of a Cherished Staff Member
On February 18, 2023, we sadly said goodbye to one of our own, Tim Davis, who passed away after a short illness.
Tim joined us back in 1998 and since then he has been a big part of all our lives. Tim was far more than a salesperson at Cowdy Real Estate – he really was like family to all his colleagues and the wider Cowdy family.
Tim prided himself on his ability to ‘sell’, not just take orders; and he was always true to his ethos of putting his clients first. He had a very special ability to find common ground with others, making genuine connections with anyone he met – especially if they showed a passing interest in horses, travel, cricket…or Coronation Street!
Tim was an entertainer, a confidant, a friend and a professional. He was a true individual and was one of the great personalities of this world. He is greatly missed by us all.
Our Property Perspective Podcast
We are proud to present our new podcast series: Our Property Perspective by Cowdy. Hosted by Nick Cowdy, the podcast explores current perspectives on property, the industry and anything else we think will be interesting and relevant to our listeners. Episodes feature special guests from a variety of different backgrounds and professions.
The first four episodes are available now. First up is architectural designer Edd Coomber discussing his award-winning bespoke renovation on his Christchurch property, sold in May this year by Cowdy Real Estate. Edd gives a fascinating behind the scenes description of transforming the neglected 1977 townhouse into an incredibly functional and striking space. He also shares his design and renovation tips and discusses the current real estate market in Christchurch.
In the second episode Nick sits down with Christchurch City Councillor James Gough to discuss the new Rating Valuations for Christchurch that were released in February this year, along with the proposed Medium Density Residential standards update.
Jacob Wieblitz, one of our own residential sales consultants, features in the third episode. Jacob discusses his background and how he got into real estate, along with what’s unique about being part of the boutique Cowdy brand. Jacob has also recently sold his own property and talks about what he learned from being the vendor in a transaction instead of the agent.
Nick invited architectural historian Dr Jessica Haliday to share her insights in episode 4. Jessica is the director and co-founder of Te Pūtahi Centre for Architecture and City Making, which hosted Open Christchurch in early May 2023. This year’s event paid homage to the work of Sir Miles Warren and Maurice Mahoney and featured 52 of Christchurch’s most outstanding architectural buildings and homes, including Sir Miles’ recently renovated Dorset St Flats, several of which are proudly managed by Cowdy Property Management.
Our Property Perspective is something Nick has been working on for a long time and we are excited to see where he takes the series. We aim to release a new episode every fortnight. To get episodes direct to your device, follow ‘Our Property Perspective by Cowdy’ on Spotify, iHeart Radio, Apple Podcasts or Google Podcasts or visit Nick’s podcast profile here.
Welcome to the Team
We are thrilled to welcome our latest team members to Cowdy – Bruce McPhail, Penelope Shrimpton, Louis Beckert, and Samantha Griffiths. Bruce joined our Commercial team late last year, and was followed closely by Penelope. Louis and Samantha both started early this year, joining our Property Management team.
Here is a little more about our new team members.
Bruce McPhail:
Position at Cowdy: Commercial Sales & Leasing Consultant
How long have I lived in Christchurch: I have lived in Christchurch my whole life besides a few stints in the UK, South Africa, Thailand, Egypt and Auckland
Education: Christchurch Boys’ High School then I did my Bachelor of Law at Canterbury University
Family: I have 4 siblings who are spread around New Zealand. I also have a son that is living in Christchurch and works as a Sous Chef at Te Pae
Personal statement: I have been involved in real estate in both New Zealand and abroad for more than 40 years. Aside from real estate I have also worked as a solicitor specialising in commercial and conveyancing law, which plays a great part in my career. My ethos is ‘try hard, be polite and have fun’
Previous Jobs: Too many to name – Jack of all trade, master of only a few
In my spare time: I like sports and reading
The charity I support the most: Alzheimer’s New Zealand
Favourite home cooked meal: A Japanese curry
Favourite Restaurant: All of them!
Favourite holiday destination: Akaroa or Queenstown
Favourite thing to do in Christchurch: I love playing golf and I manage the Christchurch Golf Club Woodward Cup Team
Favourite Book: A Fairy Tale of New York by J P Donleavy
Favourite TV show: QI
Penelope Shrimpton:
Position at Cowdy: Industrial/Commercial Sales & Leasing Consultant
How long have I lived in Christchurch: 35 years +
Education: I did 4 years high school followed by many years of travel
Family: My family consists of many nieces and nephews, my sister, and my best friend Frankie (dog)
Personal statement: Happy girl who loves life
Previous Jobs: I have been in commercial/industrial real estate for many years. Prior that this I was working as a personal assistant to two Directors
In my spare time: Walking, gardening, cooking, being with friends, and enjoying life
The charity I support the most: Unicef, WWF & World Animal Protection
Favourite home cooked meal: I love anything that’s home cooked
Favourite Restaurant: I haven’t found my favourite just yet – I like many
Favourite holiday destination: Italy
Favourite thing to do in Christchurch: Many good walks and dining out with friends
Favourite Book: Anything mystery
Favourite TV show: I currently don’t have one
Louis Beckert:
Position at Cowdy: Property Manager
How long have I lived in Christchurch: I have lived in Christchurch my whole life
Education: Christ’s College followed by a Bachelor of Land and Property Management at Lincoln University
Family: Mother, father & two older brothers
Personal statement: I am a motivated and happy person who loves to meet new people
Previous Jobs: My first job was at Deans Bush Saturday market – I was a barista for the coffee stall. During my study at Lincoln, I interned as a salesperson but decided property management is my passion. I also am a goalkeeper hockey coach through Canterbury Hockey and schools.
In my spare time: I play a lot of hockey which takes up my time in the evenings and mornings – I coach too. I enjoy going on 4×4 adventures in my Prado and I have always been interested in bikes and urban cycling!
The Charity I support the most: The Wikimedia Foundation. This supports Wikipedia, I believe having free information at a whim is extremely important and I am a regular donator to help support the content creators
Favourite home cooked meal: Hoki fish wraps with avocado salsa
Favourite Restaurant: Tutu Bene
Favourite holiday destination: Lake Tekapo
Favourite thing to do in Christchurch: Explore the Port Hills whether its running, biking, or walking
Favourite TV show: The Office
Samantha Griffiths:
Position at Cowdy: Property Manager
How long have I lived in Christchurch: I moved here on 10th May from Napier, Hawkes Bay
Education: I was educated in South Africa and finished High school and completed my Real Estate license over there. I also completed my Real Estate Salesperson licence in 2021 in New Zealand
Family: My husband, Geoff, and our 8 year old daughter Emma
Personal statement: As a person I am very balanced and thrive on structure. I love to get things right and done properly, and I don’t rest until I’m satisfied
Previous Jobs: I have 15+ years of Property Management experience, mostly in South Africa, and almost 1.5 years in New Zealand. I owned my own Property Management and Body Corporate Management business before relocating to New Zealand
In my spare time: I love sport so I’m always outdoors
The Charity I support the most: Wellington Regional Children’s Hospital
Favourite home cooked meal: I love a good home cooked lamb stew
Favourite Restaurant: Still exploring Christchurch, but I love Mexican food the most!
Favourite holiday destination: Still finding one in New Zealand, there’s so much exploring to do. While living in the North Island we frequented Taupō
Favourite thing to do in Christchurch: So far I have loved being in the city but I’m looking forward to exploring all the outdoor activities here
Favourite Book: I love to read biographies
Favourite TV show: Not a big TV watcher, but when I do find something it must be light-hearted
Parakiore Recreation and Sport Centre
Despite construction delays due to the liquidation of a major subcontractor, the Parakiore Recreation and Sport Centre is a tremendously exciting anchor project for the Christchurch central city and the entire Canterbury region.
Set to become the largest aquatic and indoor recreation and leisure venue of its kind in New Zealand, the huge 30,000m2 facility is already a commanding presence on its six hectare site bounded by Moorhouse Avenue, Stewart Street, St Asaph Street and Antigua Street.
Among the many devastating impacts on the Christchurch community following the earthquakes of 2010 & 2011 was the loss of several community recreation and sports facilities. Included as part of the original post-quake city blueprint, Parakiore is being developed by government agency Rau Paenga (formerly Ōtākaro Ltd) and will be fully equipped to host local, national and international sporting events. The building will include a 10-lane, 50-metre competition pool, aquatic leisure facilities, five hydroslides, fitness facilities, sports courts, over 1,000 spectator seats & around 500 car parks.
The main challenge faced during the construction of this large-scale facility was addressing the below-ground issues caused by liquefaction. Rebuilding on the site presented several difficulties, prompting Aurecon to engineer an impressive solution. They drove 8,000 stone columns, each reaching a depth of 12 metres below ground, to provide the necessary structural support. This is the biggest use of stone columns in New Zealand’s construction history.
Given Christchurch’s high water table, Aurecon undertook special precautions to ensure the stability of the swimming pools while they are empty for maintenance. Concourse floor levels were raised to counter the risk of structural damage and Aurecon also engineered deep pool slabs to resist uplift when the pools are empty.
As a key regional hub for recreation, sport and competition, Parakiore will play an important role in promoting physical health and wellbeing in Canterbury. For more information about the facility, visit raupaenga.co.nz/projects/parakiore-recreation-and-sport-centre.
The Importance of Regular Property Inspections
OLIVIA COWDY / Manager, Property Management
Cowdy’s specialist property management team takes great pride in efficiently managing your rental properties and protecting your investment, while ensuring the wellbeing of tenants.
Regular property inspections are a crucial part of this service. They are an essential tool in ensuring your property stays well maintained, everything is running well, no damage has occurred and tenants are keeping the place clean and tidy.
Legally, landlords have the right to inspect rental properties every 30 days. However, we recommend conducting comprehensive inspections every three to four months, which in our experience is the optimum time period to keep on top of any issues and maintain good tenant relations. After each inspection, our property managers provide landlords with detailed written reports and photos, ensuring all required documentation is kept up to date.
Some property management companies are advocating for a maximum of two inspections per year, as opposed to our recommended three to four inspections (which is also currently mandated by most insurance companies). We are strongly against this proposal, which not only risks your insurance cover becoming void, but also increases the likelihood of any property damage going unnoticed for long periods. Our regular inspections allow us to assess how tenants are caring for the property, identify any damage and proactively address any maintenance issues. We often discover problems that tenants may have overlooked, such as leaks in the hot water cylinder or roof or poorly maintained gardens.
We can only speculate that property managers seeking to reduce inspection frequency are primarily interested in reducing their workload, particularly if they charge a flat-rate management fee. We take pride in providing top-quality property management services without cutting corners to reduce costs.
Regular inspections also offer benefits to tenants. Although we encourage tenants to promptly inform us of any issues as they arise between scheduled inspections, regular inspections provide an opportunity for them to discuss maintenance, repairs or minor alterations. Tenants are entitled to carry out minor alterations in accordance with legislation, but landlords may impose certain conditions. Minor alterations can include things like changing curtains, hanging pictures, adding shelves or starting a vegetable garden.
If a tenant causes negligent or intentional damage, they are responsible for the cost of repairs. By conducting regular inspections, we can promptly address any problems and issue breach notices if necessary. Discovering damage only when the tenant vacates can make it more challenging to recover costs. Such situations often lead to tense disputes, potentially requiring Tenancy Tribunal intervention. Tribunal hearings demand extensive preparation and clear evidence of the damage and when it occurred.
With our meticulous initial and regular maintenance inspections, we can provide irrefutable evidence, including photographs and written reports, that document the condition of the property before the tenancy began as well as at each inspection date and when damage was identified. This establishes a clear timeline of what damage occurred and when.
Inspection records are generally required by most insurance companies that offer landlord insurance. When filing an insurance claim, the first requirement of most insurers is evidence of the most recent inspections, supported by photographs. Failure to provide this information may result in claim denial. This is where having a property manager who keeps detailed formal inspection records becomes a real advantage.
Body corporate and Healthy Homes requirements
Under the Unit Titles Act 2010, body corporates are obliged to insure all buildings, land, and improvements. If your property is part of a body corporate, inspections are necessary to comply with the insurance policy.
All rental properties are also required to meet rigorous Healthy Homes standards, which establish minimum criteria for heating, insulation, ventilation, moisture control, drainage and draught prevention. Most properties must meet the standards within 120 days of a new or renewed tenancy start date. For all other private rentals, compliance must be achieved by 1 July 2025.
Regular inspections play a crucial role in keeping rental properties compliant with Healthy Homes standards. Non-compliance can lead to penalties of up to $7,200.
Cowdy’s property managers are dedicated to looking after your property to the highest standard. If you would like to review a sample inspection report or discuss our services in more detail, please don’t hesitate to contact our office.
The Christchurch Market
NICK COWDY / Residential Sales Consultant, Principal Agent
As we approach the halfway point of 2023, many experts predict house prices will continue to fall nationwide at a controlled rate as the rest of the year passes and interest rates rise. While we saw prices fall significantly nationwide in 2022, they still remain well above pre-pandemic levels, especially in Christchurch, where we are still sitting at an increase of 36% since then.
Many larger regions in New Zealand are in a buyers’ market, where purchasers have an advantage over sellers when it comes to price negotiation and the supply of properties for sale exceeds demand. This is demonstrated as we see the number of properties for sale continue to increase while current listings take longer to sell. The Christchurch market is looking reasonably steady now compared with a year ago, with a greater degree of stability. There is still great interest in properties coming on the market, especially those in sought after areas. The length of time properties take to sell is averaging 35 days, which is expected given the lower sales volumes being achieved.
With 2023 being an election year, we could see a nationwide slowdown in the housing market as people tend to hold off buying and selling in the run-up to an election. However, experts are not expecting the Christchurch market to be overly impacted this year. In recent years, Christchurch has gained a reputation as a sought-after place to live, with a contemporary city centre, access to multiple recreation and lifestyle opportunities and a housing market that offers fair value compared with many other main centres. This is a positive demand driver for the local property market.
The Real Estate Institute of New Zealand (REINZ) released its April 2023 property report in early May, showing the median house price in Christchurch was $660,000 – down 7% from April 2022, bearing in mind this was close to the peak of the market post-Covid.
The highest valued suburb in Christchurch is Scarborough, which reached a median market value of $1.81m in March, the first Christchurch suburb to surpass $1.8m in median price. Kennedy’s Bush and Fendalton are the next most expensive suburbs, with median values of $1.65m and $1.63 respectively.
Looking for a Property Manager
We are looking for a Property Manager!
Cowdy is a family-owned independent Real Estate business that is respected and well recognised in the industry. What we value most is the personal service we deliver to property owners and tenants. Our highly skilled, award winning and motivated team will maximise returns and minimise your stress.
If you are moving to Christchurch, or are unhappy in your current role, come and have a chat. Experience is ideal but we will also consider a graduate as an Assistant Property Manager. We will train you until you are up to speed and can manage your own portfolio!
If you’re looking for a new role, check out the job details here and get in touch for a chat if it sounds like you.
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