FOR SALE
$700,000 - $720,000

11 Observation Drive
Rye VIC 3941

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 717m2
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Build the Dream, Embrace the Lifestyle

Build the home of your dreams in a sought-after lifestyle location with this 717m2 vacant parcel of land in Rye. Measuring approximately 42.7m by 16.8m with an existing driveway for easy access, there’s plenty of room to build the perfect residence, whether it’s a contemporary masterpiece or a charming cottage, without building removal costs.
Established trees and gardens, including fruit trees, give you a ready-made leafy backdrop for your home – no need to wait a generation for trees to grow to maturity – enjoy the lush surrounds from day one.
Rye Beach and foreshore cafes and restaurants are all within walking distance. Imagine starting your morning with a stroll along the foreshore, grabbing a coffee, enjoying a round on one of the first-class golf courses, taking in the scenery at Number Sixteen Beach, and ending the day with a wine from one of the local wineries – life doesn’t get better than this. For your everyday convenience, Woolworths, Rye Primary School, and public transport are also within walking distance, and Melbourne CBD is approx. 90 minutes away via the Peninsula Freeway.
• Vacant and leafy 717m2 parcel of land in Rye
• Approx. 42.7m deep with 16.8m street frontage
• No demolition or building removal is required
• Established trees and gardens + existing driveway
• Walk to Rye foreshore, shops, school, restaurants
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Property Details for 11 Observation Dr, Rye

Building Type
Land
Land Size
717m2

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About Rye 3941

The size of Rye is approximately 17.7 square kilometres. It has 16 parks covering nearly 14.3% of total area. The population of Rye in 2011 was 8,159 people. By 2016 the population was 8,423 showing a population growth of 3.2% in the area during that time. The predominant age group in Rye is 60-69 years. Households in Rye are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Rye work in a trades occupation. In 2011, 72.7% of the homes in Rye were owner-occupied compared with 71.6% in 2016.

Rye has 10,020 properties. Over the last 5 years, Houses in Rye have seen a 46.19% increase in median value, while Units have seen a 40.55% increase. As at 30 November 2024:

  • The median value for Houses in Rye is $1,033,885 while the median value for Units is $697,628.
  • Houses have a median rent of $595 while Units have a median rent of $480.
There are currently 83 properties listed for sale, and 12 properties listed for rent in Rye on OnTheHouse. According to CoreLogic's data, 342 properties were sold in the past 12 months in Rye.

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