April continued the trend of a tightening rental market, with further reductions in new listings and available stock. Properties are leasing quickly, and despite seasonal slowdowns due to Easter and Anzac Day long weekends, rents remain strong, particularly for larger properties.
Leasing Trends and Market Activity
Chidiac Realty leased 26 properties in April, including 16 in Wentworth Point, representing a 17% share of all leased properties in the suburb. This brings our total to 135 properties leased so far in 2025, down 23% year-on-year, largely due to a 30% reduction in the number of tenants vacating existing tenancies. Overall a positive trend for landlords and tenants looking to maintain longer relationships and reduce overall turnover costs.
In Wentworth Point, 98 new rental listings were recorded, a 12.5% drop from March. 87 properties were leased, down 32% from March, with shorter trading weeks contributing to the decline. Chidiac listed 17.5% of all new properties in the suburb.
Days on Market
Properties continued to lease well below suburb averages:
Chidiac’s average days on market: 8.5 days, on par with March, and 69% faster than the suburb average.
Wentworth Point average: 28 days, slightly down from 29 in March.
Rolling 12-month median for Chidiac: 11 days.
Rental Rates and Market Performance
Rental trends remained stable, with notable strength in larger apartments:
Median rent (Mar 2024 – Apr 2025): $720/week.
1-bedroom apartments: $662/week, down 2.5% from March and 2.5% year-on-year.
2-bedroom apartments: $805/week, up 2.5% from March, and 4% year-on-year.
3-bedroom apartments: $1100/week.
Tenant Turnover and Relets
Relet activity decreased further in April:
17 relets, down 35% from March, and down 26% compared to April 2024.
A relet refers to a property where an existing tenancy ends and the home returns to the market for a new lease. Fewer relets indicate that more tenants are choosing to stay in place, which reduces the volume of properties becoming available.
This decline in relets has been a key driver of reduced rental stock, contributing to tighter market conditions and supporting current rent levels.
Seasonal Outlook
Leased activity across Wentworth Point was affected by a shortened trading month, with both Easter and Anzac Day reducing the number of available leasing days. Chidiac's performance remained strong, with properties leasing quickly and rental values holding firm.
Year-to-date, leasing volumes are down 22% year-on-year, in line with reduced relets and fewer new listings.
Parramatta Light Rail Stage 2 Begins
Infrastructure works are now underway for Parramatta Light Rail Stage 2, a key project set to improve accessibility and connectivity across Greater Parramatta and its surrounds. Enabling works have commenced, laying the foundations for the future light rail line.
This transport infrastructure is expected to significantly enhance the liveability and long-term rental appeal of key areas including Wentworth Point, positioning the suburb for continued growth and stronger tenant demand.
Legislative Updates
The NSW Government's upcoming tenancy reforms will take effect in a few weeks (19 May 2025). These include:
No-ground terminations removed; a valid reason must be provided, and reletting restrictions applied.
Pet requests must be answered within 21 days and cannot be unreasonably refused.
Extended notice periods: 90 days (12-month lease), 60 days (6-month lease). Tenants can vacate earlier once notice is received.
Rent increases limited to once every 12 months (already in effect).
In summary: Despite a shorter trading month, reduced turnover and lower new listings continued to tighten supply, keeping rental prices strong and leasing times low. If you're preparing to lease, conditions remain favourable for securing a quality tenant quickly.
