August reflected a quieter leasing environment, with fewer properties changing hands and a high proportion of tenants renewing their leases rather than vacating. With relets making up two-thirds of our activity, demand has remained solid despite fewer new listings. Notably, rental prices have held firm, and standout results continue—such as a two-bedroom apartment with water views leasing for $970 per week. Looking ahead, the upcoming release of Laguna and Glade—the next stage of Sekisui House’s Sanctuary development—will add 163 new apartments to Wentworth Point, likely shifting the balance between supply and demand as we enter spring.
Leasing Trends and Market Activity
Chidiac Realty leased 24 properties in August, including 18 in Wentworth Point, bringing the year-to-date total to 280. Of the 129 new listings in Wentworth Point, Chidiac held a 16.5% share, while our leased market share sat at 17.5%.
New listing activity in Wentworth Point rose slightly by 1.5% compared to July, but remained 9% lower than the same time last year. Total leasing activity in the suburb declined by approximately 15% month-on-month, largely due to lower turnover and consistent stock absorption over the winter months.
Days on Market
Chidiac average: 13.4 days
Wentworth Point suburb average: 29 days
Chidiac properties leased approximately 54% faster than the suburb average.
Rental Rates and Market Performance
- 1-bedroom: $682/week
- 2-bedroom: $822/week
- 3-bedroom: $1,100/week
Notable lease: A two-bedroom apartment with water views on level 23 at Marina Square leased for $970/week, approximately 15% above the suburb average.
Rental prices across Chidiac-managed properties increased 5% year-on-year, demonstrating continued strength despite fewer listings and reduced tenant turnover.
Tenant Turnover and Relets
66% of properties leased by Chidiac in August were relets, where existing tenants vacated and new tenants moved in. While relets continue to drive the majority of our leasing activity, they are down approximately 4% year-on-year, as more tenants choose to remain in place longer.
Reduced relet activity across the June–August period has contributed to fewer available rental properties, supporting price growth and reducing vacancy periods.
Market Insights and New Supply
Chidiac's total number of leased properties in August was down approximately 40% compared to the same time last year. However, this decline reflects a broader trend of lower tenant turnover, not falling demand.
Two newly completed buildings – Laguna and Glade – have launched in Wentworth Point as part of Sekisui House’s Stage 2 release of the Sanctuary development, delivering 163 new apartments to the area. We anticipate this new supply may influence rental pricing and supply-demand dynamics in the months ahead.
As Spring begins, we expect an uplift in tenant activity and encourage landlords to focus on quality tenants and longer-term leasing strategies to minimise vacancy and maintain returns.
