SALES
With a spring in our step over September, we exchanged 11 properties - seven within Wentworth Point - alongside homes in North Strathfield, Concord, and Waterloo. Our total number of sales for the year has reached 101, achieving triple figure performance before summer has arrived.
Resort style 518/2 Betty Cuthbert Avenue, Sydney Olympic Park was exchanged unconditionally, demonstrating the unwavering confidence of its buyer, while 1914/11 Wentworth Place, Wentworth Point sold after 11 days in our hands after spending over three months on the market with another agency. Properties listed under our guidance continue to spend significantly less time on the local market, with our median at a steady 30 days in Wentworth Point, compared to the suburb average of 65 days.
Attendance figures picked up to 179 (+19) groups across 20 (+1) properties over the month, and while more people are out and about, sales activity remains fairly consistent with Wentworth Point recording a strong 32 (+2 ) September sales. Two bedroom dwellings are still leading demand (16), followed by one bedrooms (12), three bedroom homes (three) and one, less common sale of a four bedroom apartment.
With 155 (-5) properties currently listed for sale in the suburb, there has been a minor drop in stock over September, with the vast majority of homes again being two bedroom dwellings (86), followed by one bedrooms (59) and significantly less three bedroom homes (10).
The median property price in Wentworth Point decreased 0.5% this month from $743,400 to $739,700, and in perspective of the shift since its pandemic peak of $749,600 in February this year, the movement marks a modest -1.32% change.
Review the full Wentworth Point report here.
RENTALS
Our rental performance has proven excellent, with a further reduction in days on market from an already low 15 days to 13 compared to the Wentworth Point median of 24 days over September.
The average rental price in the suburb has remained consistently high at $580/week, and interestingly, stock levels have dwindled from last month’s 139 to 101 - marking a substantial 27% decrease.
Despite less properties available for rent, 94% of available Wentworth Point stock was successfully leased (95/101), with our agency’s overall results seeing 32 homes leased across Sydney, bringing our total for the year to 424. We expect the exceptional tenancy demand that has dominated 2022 to see the remainder of the year through.
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