We’ve closed a huge week with four sales, seeing 222/5 Verona Drive, 131/3 Savona Drive, 602/17 Wentworth Place, 15111/1 Bennelong Parkway and 508/6 Nuvolari Place all officially off the market. 222/5 Verona Drive marks another off market sale for us, while 602/17 Wentworth Place was exchanged after a short lived three weeks on the market.
While sales activity remains solid, it’s the rental market that is now experiencing considerable gains with some of the lowest supply levels and days on market, coupled with highest rents we’ve seen since approximately 2017. Wentworth Point investors are seeing very positive returns on their investment properties, with our rental properties currently spending an average of 12.8 days on the local market before being leased, and their weekly rent yield increasing 5% alone since last month.
Overall, we’ve recorded a significant 26% drop in rental listings in the suburb since last month, and with less homes available for rent but a consistently high number of potential tenants still about, it is likely that investor confidence in our local market will continue to increase, alongside competition as this buyer group steps back in.
Thinking about taking the leap as an investor, or still searching for the perfect home? We have three unique homes ready to inspect now: 525/7 Verona Drive (one bedroom corner apartment in Taiga with bright north east aspect and residents’ rooftop infinity pool); and 109/4 Baywater Drive (two bedroom corner apartment in Corsica with private and expansive wraparound courtyard).
Your raffle ticket contributions helped raise a total of $800 in a couple of hours at last Sunday’s markets, with all proceeds to be put to great use at Wentworth Point primary school.
Don’t forget to enter our Easter competition for your chance to win one of two family passes to the Royal Easter show - check out the details here. The lucky winners will be announced on 8 April 2022.
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