Suburb Profile Report for Rye VIC (3941)

Rye House: Median price $715,000, Annual capital growth 7.53%, Number of sales 338, Weekly median advertised rent $390

Rye Unit: Median price $492,500, Annual capital growth 6.97%, Number of sales 21, Weekly median advertised rent $330

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

Investment property in Rye has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 18.92%

Over the longer term, Rye has seen property prices show investors a 54.36% return over the last 3 years. This is worse than over the last 12 months

Sellers are offering property buyers an average discount of -5.93% to buyers in Rye at the moment, which is less than average for the rest of VIC.

At number 1267 in a list of fastest selling suburbs, Rye is in the TOP 40% of suburbs in Australia with an average of days on market 60.74 for properties listed there.

Advertised rents are around the $390 mark per week – giving a return of 2.84% based on the median price in Suburb

Rye has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of 7.07% to date .

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Rye has increased when compared to the 5 year average annual rate.

Rye3941 is located in VIC which offers an average discount of -4.65% to property investors. Rye itself is showing figures that indicate -4.60% is the average achievable by property buyers investing in the suburb.

Renters in Suburb are facing rents around $17160 per annum or $330 every week.

Metrics i HOUSE UNIT
$715,000 $492,500
2.88% -1.50%
18.92% 7.07%
7.53% 6.97%
$390 $330
338 21
2.84% 3.48%
60.74 61.15

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
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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
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Recent sales & rentals