This magnificent Wye River property, which has a dual pod configuration, is the most recent recorded sale for the area at $2 million.

Town by town snapshot: Wye River

September 19, 2019 BY

The size of Wye River is approximately 35.8 square kilometres with the permanent population of Wye River recorded at 234 in 2011 and by the 2016 Census the population was 51 showing a population decline of 78.2 per cent in the area during that time.

This significant decline in population was due to the December 2015 bushfires, which wreaked havoc on the town and destroyed more than 100 houses – about 80 per cent of the town’s dwellings.

A steady renewal effort has been underway since the fires with new and improved infrastructure in place to support the rebuilding effort, but at a cost.

Many landowners chose to sell after the fires due to the significant increase in costs to rebuild to meet the new wildfire guidelines.

Wye River is one of the smaller coastal communities on the Surf Coast but has much to offer the traveller, from its delightful coastal scenery to its wonderful cafe and general store.

It is also the name given to the waterway that flows through the town and into the sea at this point.

Situated some 155 kilometers west of Melbourne on the Great Ocean Road, the Wye River township is a popular tourist destination not far from the resort town of Lorne.

It became a popular place for Melburnians to holiday after the Great Ocean Road was officially opened in 1932.

Wye River is an all-season tourist destination where visitors enjoy beaches in summer and drives, food trails and waterfalls in winter.

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 per cent of the homes in Wye River were owner-occupied compared with 61.5 per cent in 2016.

 

 

Population: 63

Male: 48.5%

Female: 51.5%

Median age: 50

5 year population change: -78.2%

Median house price: $877,500

Change in Median Price: (5yrs) is 31.2%

Median asking rent per week: N/A

Average length of ownership: 7

Owner occupiers: 70%

Renters: 30%

 

Historic median house price:

May 2019: $877,500

May 2018: $810,000

May 2017: $892,500

May 2016: $655,000

May 2015: $545,000

 

House sales per annum:

Period ending May 2019: 8

Period ending May 2018: 7

 

Land median sale price:

May 2019: $275,000

May 2018: $278,000

 

Land sales per annum:

Period ending May 2019: 6

Period ending May 2018: 20