Rye

POSTAL CODE: VIC, 3941

HOUSE

UNIT

It also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $932,500

The augmented property values in the suburb are trailing behind the territorial average of 4.64% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $600.

Home owners selling their properties and realtors in RYE usually have to wait an average of 72.9 days days before their assets are lifted off the market.

The VIC suburb ranks 359th on the list of best yielding suburbs for rental properties in VIC, posting a 3.35% return.

It also places places 553rd in Australia based on median property value growth during the quarter.

A survey of average capital gains or median home price increase in suburbs across the country shows that RYE, 3941 obtained a 7.89% growth over a ten-year period. It ranks 360th on our list of suburbs that property investors should look into.

RYE, 3941 has a capital gain of -6.11% for the past year, which is higher than average compared to its -33.85% growth within a five-year period.

With the median home price in RYE sitting at $622,500, and the average rent at $480, property owners could potentially earn a 4.01% increase in gross rental yield.

Figures from the previous quarter show that capital gains for real estate buyers in RYE are high, as opposed to average gains per annum over the past five years.

RYE, 3941 in VIC belongs to the local government area of Mornington Peninsula.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$932,500	$622,500
Growth Report
Median Quarterly	-1.84%	7.79%
Median 12 month	1.36%	-6.11%
Median 3 years	-14.06%	-20.45%
Median 5 years	-1.73%	-33.85%
10 years average annual	7.05%	7.89%
Weekly media advert. rent	$600	$480
Time on Market	72.9 days	26 days
Gross Rental Yield Percent	3.35%	4.01%

Demographics (Median Values)*

Total Population 12172

Weekly Household Income 1067

Household Size 2.30

Average Age 46

Monthly Loan Repayment 1560

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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