Town by town snapshot – Wye River

The size of Wye River is approximately 35.8 square kilometres, the population of Wye River in 2016 was 51 and by the 2021 Census the figure was 67 showing a population increase of 32% in the area during that time.

Wye River is a small coastal town situated between Lorne and Apollo Bay, along one of the most spectacular sections of the Great Ocean Road.

Located on the river it is named after, with a rugged and bushy mountain backdrop, it’s picturesque scenery where the rainforest meets the sea is a visitor’s delight.

Once considered a secluded getaway destination that most people drove past or stopped for beer and a pub meal, Wye is now considered one of the most premium living or holiday options on our coastline, with the tightly held market rarely offering up homes for sale.

Currently there are only two properties for sale in this market and the low volume of sales makes it difficult for valuers and real estate commenters to get a grasp of values and median house price data.

The town boasts a very popular caravan park 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.

There was a significant decline in population after the Christmas 2015 bushfires that devastated the area, destroying over 100 homes. The town has now recovered with more fire resilient residential structures continuing to pop up in their place.

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 on average $2,367 per month on mortgage repayments, and in general, people in Wye River work in a labourer occupation.

 

AGENT PERSPECTIVE:

“The market has tightened up in the Sep Creek/Wye River and Kennett River real estate market in line with all the towns along the Great Ocean Road .

“Correctly priced property is still engaging buying interest but the premium competitive prices are a rarity.

“I would consider this a short term glitch for obvious macro-economic reasons.

“It’s a beautiful part of the coast that will undoubtedly fire up again in Spring.”

 

Michael Coutts

Director, Great Ocean Road Real Estate

 

TIDBIT:

Wye River first became a popular place for Melburnians to holiday after the Great Ocean Road was officially opened in 1932