Suburb Profile Report for Rye VIC (3941)

Rye House: Median price $692,500, Annual capital growth 5.85%, Number of sales 330, Weekly median advertised rent $410

Rye Unit: Median price $559,000, Annual capital growth 8.65%, Number of sales 17, Weekly median advertised rent $340

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

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

Property value increases in Rye have tracked close to the VIC average of 4.41% over the last 12 months.

While Rye,3941 ranked number 514th in VIC for increase in median house value (annualised) increase, it is ranked 164th over the last 5 years.

Vendor discounting in Rye is giving property investors an average Vendor Discount of around -7.71%. This puts suburb at number 94th in VIC when ranking the most discounted suburbs.

Situated 64.41km from the CBD, Rye is one of Mornington Peninsula (S) localities in the postcode 3941.

Rye is in the TOP 10% in VIC when comparing median price capital growth over the last year. Rye gave property investors a very good capital gain figure when compared to the rest of the state, with 22.05%.

The five-year average increase in median property values for Rye,3941 has given property investors a potential capital gain of 53.57% across each of those five years.

At number 1237 in a list of fastest selling suburbs, Rye is in the bottom 10% of suburbs in Australia with an average of days on market 113.4 for properties listed there.

A $340 per week rent on the median house gives suburb investors a gross yield of circa 3.16%, without taking into account capital value appreciation, which has been averaging out at 8.65%.

Metrics i HOUSE UNIT
$692,500 $559,000
0.36% 17.68%
1.84% 22.05%
5.85% 8.65%
$410 $340
330 17
3.08% 3.16%
68.3411214953271 113.4

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Balanced (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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