September saw a notable shift in the local rental market, with both new listings and leased properties in Wentworth Point decreasing. While supply tightened, tenant enquiries climbed, indicating continued demand. The settlement of the Laguna & Glade buildings added new stock to the suburb and has begun to shape pricing benchmarks, with another major release expected in the coming weeks.
Leasing Trends and Market Activity
Chidiac Realty leased 36 properties in September, including 18 in Wentworth Point, bringing our year-to-date total to 320.
Wentworth Point recorded 89 new listings, with Chidiac contributing 20.2% of all new listings and 20.4% of all leased properties.
Both new listings and leased volumes dropped compared to August, with Wentworth Point down ~35% in listings and ~22% in leased properties.
Days on Market
Chidiac average days on market: 15.4 days
Wentworth Point average: 36 days
Our leasing time remains consistently strong, with properties leasing almost three times faster than the suburb average.
Rental Rates and Notable Leases
1-bedroom: $712/week
2-bedroom: $897/week
3-bedroom: $1,050/week
Notable lease: A brand-new 2-bedroom apartment with water views at 501/3 Sea Rush Street, Wentworth Point leased for $1,100/week—setting a new benchmark in the newly completed Laguna & Glade development.
Relet Activity and Tenant Movement
Relets made up ~60% of our leasing activity in September.
This is down ~28% compared to August and 9% lower than September last year, consistent with the longer stays we’re seeing from tenants under the new rental legislation.
Enquiry levels rose, with open home attendance averaging 10.5 groups per property, up ~35% from August.
Development Update: New Supply with Owner-Occupier Focus
The settlement of Laguna & Glade by Sekisui House added 163 new apartments to Wentworth Point in September. These apartments have achieved premium rental prices, setting a new pricing benchmark in the area.
However, supply has tightened despite these additions, indicating a greater concentration of owner-occupiers in the area. This suggests that much of the new stock is not returning to the rental pool, keeping overall availability low.
The upcoming Florence and Capri release will bring a further 160 homes to the market from October through November, and we’ll continue monitoring how this may affect balance between supply and demand.
