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22 STYLE | promotion<br />
THE MARKET<br />
What does Covid-19 mean for real estate? We asked Cowdy’s<br />
Nick Cowdy and Tom Rennie for their expert advice.<br />
How has Covid-19 impacted the real estate market?<br />
Nick: Obviously, the market isn’t as confident when compared<br />
to pre-Covid-19, which was a real sellers’ market. Now<br />
I would consider it to be more balanced but with signs<br />
of increasing confidence from buyers. There is very little<br />
housing stock on the market, record low interest rates and<br />
Christchurch is one of the most affordable cities in the country<br />
and this will cause demand to exceed supply and see a rise in<br />
house prices.<br />
What do vendors and buyers need to know in order to<br />
manoeuvre the post-Covid environment?<br />
Tom: For owners, we would suggest a good analysis of<br />
the property to help confirm a good sales strategy. The<br />
fundamentals haven’t changed; invest in good advertising so<br />
consumers know the property is available. For buyers, look<br />
at property as a long-term investment and don’t be afraid of<br />
having a go.<br />
Nick Cowdy<br />
What is your advice to people who are feeling apprehensive<br />
about the market?<br />
Nick: No one has a crystal ball and it is a big financial decision.<br />
If you are buying and selling in the same market, then there is<br />
nothing to worry about. If you are a bargain hunter, put in<br />
as many offers as you can. But don’t get your hopes up as<br />
there are plenty of other buyers out there happy to pay fair<br />
market value.<br />
What have been some of the highlights for Cowdy over the<br />
past 12 months?<br />
Tom: One of the sale highlights was definitely a property on<br />
Hewitts Road, Merivale. The property held great memories<br />
from my adolescent years. We were in competition for the<br />
business, so to have my friend’s parents put their trust in me,<br />
in a professional sense, was really rewarding. We ran a fourweek<br />
deadline-sale campaign, received seven offers and a final<br />
sale price that exceeded expectations. The strategy and effort<br />
we put in really paid dividends and our clients walked away<br />
with a transparent and successful experience.<br />
Tom Rennie<br />
Nick: I spend a lot of time learning about 1950s, ’60s and ’70s<br />
Christchurch architecture. I am very passionate about it and<br />
do a bit of writing on it, when I get time. Selling a beautifully<br />
renovated Warren and Mahoney property on Office Road,<br />
Merivale was a real pleasure. While my writing and research<br />
came about because of an interest, it is incredibly rewarding to<br />
have owners of these special properties recognise my efforts.
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