Suburb Profile Report for Rye VIC (3941)

Rye House: Median price $550,000, Annual capital growth 6.98%, Number of sales 395, Weekly median advertised rent $350

Rye Unit: Median price $420,000, Annual capital growth 5.75%, Number of sales 18, Weekly median advertised rent $295

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

At number 631th in the list of Australian suburbs ordered by increase in median house value over the last year, Rye, 3941 is in the top 20% with a property value increase of 13.40% recorded in median house prices.

The five-year average increase in median property values for Rye,3941 has given property investors a potential capital gain of 25.86% across each of those five years.

Rye3941 is located in VIC which offers an average discount of -6.03% to property investors. Rye itself is showing figures that indicate -5.77% is the average achievable by property buyers investing in the suburb.

If you compare the increase in value of investment property in Rye, 3941 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 15.38%.

Comparing Rye,3941 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.12% offered to property buyers. Sellers in Rye itself are offering an average vendor discount of -3.03% to real estate investors.

Using the current median advertised rental of $295 and the average annual increase in value of a median property of 5.75%, investors should hope to achieve an overall return of 3.65%

Joshua Callaghan Information supplied by:

Joshua Callaghan
Joshua Callaghan

M 03 5984 2600
O 0418 595 719

W http://joshcallaghan.com.au/
E Joshua.callaghan@fletchers.net.au
Rye has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of -1.18% to date.
Taking the average capital gain, or increase in median house value, Rye,3941 has racked up an average of -1.18% over the period. This ranks it number 2127th in the whole country for real estate investors looking at median house price increases.

Our latest figures would indicate that property sellers in Rye are currently offering property investors an average price cut of -8.89% below the asking price at the moment.

Residents and property investors in Rye have been waiting around 107.6 days to sell a property.Full summary
Rye has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of -1.18% to date.
Taking the average capital gain, or increase in median house value, Rye,3941 has racked up an average of -1.18% over the period. This ranks it number 2127th in the whole country for real estate investors looking at median house price increases.
 
Our latest figures would indicate that property sellers in Rye are currently offering property investors an average price cut of -8.89% below the asking price at the moment.
 
Residents and property investors in Rye have been waiting around 107.6 days to sell a property.
 
Selling points: 
Larger scale seaside town
Gorgeous bay beaches, very popular for wind surfing
Choice of golf courses
Popular surf beaches at Rye back beach and Gunnamatta surf beach
National park with cliff top walking tracks abutting Bass Strait
Approx 1 hours drive from Melbourne CBD.
 
Most sought-after properties: 
Properties close to front beach or larger acre properties near back beach location
 
Most common properties:  
Older style holiday homes although this is constantly changing with new homes.
 
Top amenities: 
Golf courses
Bay & ocean beaches
 
Local industry and business:
Tourism and hospitality are the main businesses
 
Best streets: 
Point Nepean Road
Napier St
Whitecliffs Road
Minimurra St
 
Public transport: 
Bus service connects from Portsea to Frankston
 
Close
HOUSE UNIT
$550,000 $420,000
5.06% 10.53%
13.40% 15.38%
6.98% 5.75%
$350 $295
395 18
3.31% 3.65%
67.07 132.5

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Rye VIC
Demographics
Total population 8159
Median household income ($/weekly) 843
Median age of persons 46
Median housing loan repayment ($/monthly) 1600
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 899 11.0
    35-44 years 1080 13.2
    45-54 years 1052 12.9
    55-64 years 1220 14.9
    65-74 years 1149 14.1
    Others 2761 33.8
    Age Group
    Census Count Percent(%)
    Registered Married 2831 48.8
    Not Married 2333 40.2
    Defacto Relationship 642 11.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 6177 82.5
    Hong Kong 105 1.4
    Japan 163 2.2
    United Kingdom 448 6.0
    Other 133 1.8
    Others 461 6.2
    Country of Birth
    Census Count Percent(%)
    Buddhism 87 1.2
    Christianity 4664 66.0
    Judaism 14 0.2
    Other Religious Groups 21 0.3
    No Religion 2277 32.2
    Others 3 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 305 10.8
    $400-$599 454 16.1
    $600-$799 370 13.1
    $800-$999 301 10.7
    $1,000-$1,249 295 10.4
    Others 1098 38.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 2821 45.4
    Employed, worked full-time 1705 27.4
    Employed, worked part-time 1273 20.5
    Employed, away from work 241 3.9
    Unemployed, looking for work 173 2.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 402 12.5
    Professionals 470 14.6
    Technicians & trades workers 700 21.7
    Community & personal service workers 412 12.8
    Sales 351 10.9
    Others 885 27.5
    Occupation
    Census Count Percent(%)
    Pre-school 125 9.0
    Infants/Primary 531 38.2
    Secondary 402 28.9
    Technical or Further Educational Institution 159 11.4
    University or other Tertiary Institutions 116 8.4
    Others 56 4.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 6914 96.4
    Semi-detached, row or terrace house, townhouse 120 1.7
    Flat, unit or apartment 78 1.1
    Caravan, cabin, houseboat 45 0.6
    House or flat attached to a shop, office 13 0.2
    Others 4 0.1
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 1322 42.8
    Being purchased 1016 32.9
    Rented 735 23.8
    Other tenure type 14 0.5
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals