June delivered expected seasonal moderation in the rental market, with steady enquiry levels early in the month tapering off slightly in the final weeks. Despite the winter slowdown, demand held up well, particularly in Wentworth Point, where Chidiac maintained strong leasing performance and continued to outperform on days on market.
Leasing Trends and Market Activity
Chidiac Realty leased 30 properties in June, including 27 in Wentworth Point, bringing our year-to-date total to 212 properties leased. There were 110 new listings in Wentworth Point during June, with Chidiac responsible for 26.5% of those listings and 22.6% of all leased properties in the suburb.
While volumes are lower than peak months, these figures reflect a solid performance for winter, with strong leasing conversion and continued market share leadership in our core area.
Days on Market
Our properties continued to lease significantly faster than the local average:
- Chidiac average: 12 days
- Wentworth Point suburb average: 25 days
This shows our ongoing focus on pricing strategy and presentation continues to deliver quick results even in a more subdued seasonal period.
Rental Rates and Market Performance
Average weekly rents for Chidiac-leased properties in June were:
- 1-bedroom: $682/week
- 2-bedroom: $812/week
- 3-bedroom: $1,108/week
Notable result: A renovated, unfurnished 1-bedroom apartment in Wentworth Point leased for $810/week — a record price for this property type in the area, demonstrating the premium being paid for high-quality stock.
Relet Activity and Tenant Retention
15 of our 30 leases in June were relets, representing 50% of our activity. However, this is down approximately 35% compared to the same time last year, continuing the trend of tenants choosing to renew and stay longer. This behaviour reduces vacancy risk and reflects stability in the rental market.
Relets refer to properties that return to the market because the existing tenant has vacated, either at lease end or by agreement.
Winter Market Insights
Activity levels in June followed expected seasonal trends. The first half of the month saw strong inspection attendance, averaging 10 groups per open home, but this declined by approximately 30% in the final two weeks.
This tapering is typical for mid-winter, as fewer people actively move during colder months. However, well-presented properties are still leasing efficiently, especially those positioned at fair market value.
Looking ahead: July is likely to follow similar seasonal patterns. Stock levels remain stable, and with tenant retention high, we anticipate demand to remain consistent with strong interest for quality listings.
