18 Wondaree Street, Rye VIC 3941
18 Wondaree Street, Rye VIC 3941
Modern coastal build | 3-bed 3-bath flexibility | leafy Arthur’s Seat outlook | bushfire overlay noted
This is a genuinely well-configured house for the Rye market. The 2015 build with three bathrooms and a study gives it a practical edge over older holiday stock, while the 24% site coverage on 622m² leaves room for outdoor living without feeling cramped. The open-plan layout, deck, and coastal styling align with what modern buyers expect, and the peaceful, tree-lined street position between beaches adds a layer of quiet that many coastal properties lack. It serves downsizers, small families, or holiday buyers who want move-in condition rather than renovation work, and the third bathroom is a rare convenience that broadens its appeal to renters or guests.
The bushfire overlay is the main factor to weigh, as it may influence insurance costs and future renovation flexibility. The leafy outlook toward Arthur’s Seat is a genuine value driver, but its full impact depends on whether neighbouring trees are protected or could be cleared. The property’s modern presentation and low-maintenance footprint might support stronger demand than older stock, yet the absence of confirmed nearby sales means price perception should be tested against similar contemporary builds rather than the broader street mix.
|| Comparable Sales: 27 Wondaree Street sold $1.2M–$1.3M; 62 Wondaree Street renovated sale pending | Property Price Band: $880K–$960K | Value Drivers: modern condition, third bathroom, leafy coastal setting
Detailed Independent Property Report prepared by PropCred Analyst team for 18 Wondaree Street, Rye VIC 3941
Checks found:
Value Risk
1
Liquidity Risk
Planning Risk
Income Risk
2
Execution Risk
2
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Market Insight
Rye, a coastal suburb 95km from Melbourne’s CBD, is a stable but cooling market. House medians cluster between $937,500 and $965,000, with annual growth mostly negative—ranging from -5% to -14.2%, though one source records 0%. Units sit at $551,000–$663,000, with declines of 3.6% to 17.6%. Renters and investors drive demand; gross yields are 3.2% for houses and 3.7–4.1% for units, while weekly rents hold at $588–$600 for houses and $463–$515 for units. Annual sales volume is steady at roughly 330 houses. The constraint is lengthening selling times: houses average 99 days on market, up 32% year-on-year, with auction clearance at 46.7%, down 12 points. Price softening and slower turnover signal buyer resistance, though stable rental demand and investor interest underpin the market.
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PropCred Estimated Value
Comparable Sales: 27 Wondaree Street sold $1.2M–$1.3M; 62 Wondaree Street renovated sale pending | Property Price Band: $880K–$960K | Value Drivers: modern condition, third bathroom, leafy coastal setting
Bedrooms
3
Bathroom
3
Parking
2
Land
622m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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