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.
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.
Bay & ocean beaches
Local industry and business:
Tourism and hospitality are the main businesses
Point Nepean Road
Bus service connects from Portsea to Frankston