Town by town snapshot: Wye River
The size of Wye River is approximately 35.8 square kilometres with the population of Wye River being 234 in 2011 and by the 2016 Census the population was 51 showing a population decline of 78.2% in the area during that time.
This significant decline would mostly be due to the Christmas 2015 bushfire’s which devastated the area destroying over 100 homes in its path.
Located on the river it’s named after, with a rugged and bushy mountain backdrop, it’s picturesque scenery where the rainforest meets the sea is a visitor’s delight.
The town boasts a very popular general store located beside the river, and the town’s hotel is perched high above the beach, offering visitors great views while eating and drinking.
The main sandy beach near the river mouth is patrolled during the warmer months of the year, while the surrounding rocky platforms, rock pools and reefs are great for fishing and exploring.
CoreLogic data indicates that the predominant age group in Wye River is 50-59 years with households in Wye River being primarily childless couples and are likely to be repaying $1,000 – $1,399 per month on mortgage repayments, and in general, people in Wye River work in a labourer occupation.
In 2011, 77.4% of the homes in Wye River were owner-occupied compared with 61.5% in 2016.
TIDBIT: Wye River first became a popular place for Melburnians to holiday after the Great Ocean Road was officially opened in 1932
Median age: 50
5 year population change: 601.8%
Median house price: $877,500
Change in Median Price: (5yrs) is 30.2%
Median asking rent per week: N/A
Average length of ownership: 6 years
Owner occupiers: 70%
Historic median house price:
June 2020: $885,750
June 2019: $877,500
June 2018: $745,750
June 2017: $718,000
June 2016: $613,000
House sales per annum:
Period ending June 2020: 7
Period ending June 2019: 10
Land median sale price:
June 2020: $357,500
June 2019: $290,000
Land sales per annum:
Period ending June 2020: 9
Period ending June 2019: 6