May saw further strengthening in rental activity, with listings and leases both up compared to April. Tenant demand picked up across all property types, particularly two-bedroom apartments, while three-bedroom stock showed signs of slowing. Wentworth Point remained a key activity centre, supported by Chidiac’s continued leadership in both new listings and properties leased.
Leasing Trends and Market Activity
Chidiac Realty leased 43 properties in May, including 34 in Wentworth Point, representing a 28.6% share of all leased properties in the suburb. A total of 98 properties were leased in Wentworth Point, an 11% increase from April, while 120 new listings hit the market, up 19% month-on-month.
Despite the month-on-month growth, year-to-date totals show 179 properties leased from January to May, which is down 14% compared to the same period last year, driven largely by reduced tenant turnover.
Days on Market
Properties leased faster than the suburb average:
Chidiac’s average days on market: 11.7 days, up 5% from April, but still 54% faster than the suburb average.
Wentworth Point average: 25 days, down 10% compared to April.
Rolling 12-month median for Chidiac: 12 days.
Rental Rates and Market Performance
Median rent (rolling 12 months): $740/week, up $10/week compared to the previous period.
1-bedroom apartments: $680/week, up 2.5% from April and 3% year-on-year.
2-bedroom apartments: $795/week, down 1.2% from April, but up 3.5% year-on-year.
3-bedroom apartments: $1000/week, down 10% from April and 20% year-on-year.
Highlight: A two-bedroom apartment in Wentworth Point leased for $930/week, reflecting strong demand for quality, well-positioned homes.
Tenant Turnover and Relets
27 relets in May, up 38% from April, and consistent with the same month last year.
Relets represent properties where a tenant vacates and the property returns to market. A 25% decline in relets year-to-date shows more tenants are choosing to stay in place longer, limiting overall availability.
Market Outlook
The increase in both listings and leases in May marks a strong recovery from April’s holiday-impacted slowdown. Chidiac maintained the top spot in both leasing and new listings, supported by fast leasing times and high enquiry levels.
The three-bedroom market has softened, resulting in longer days on market and pricing adjustments, while two-bedroom apartments gained popularity, reflecting shifting renter preferences.
Legislative Updates
The NSW Government's tenancy reforms are now in effect as of 19 May 2025. Key changes include:
No-ground terminations removed; a valid reason must be provided.
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).
🔗 NSW Government Summary of Changes
In summary: May delivered a strong bounce-back in activity, with more listings, higher leasing volumes, and strong pricing for well-located homes. If you're preparing to lease, conditions remain competitive with reduced vacancy and solid tenant demand across the area.
