72 Observation Drive, Rye, VIC 3941 | House for sale | OnTheHouse
 
FOR SALE
$1,500,000-$1,600,000

72 Observation Drive
Rye VIC 3941

Bedrooms: 5
Bathrooms: 3
Car spaces: 2
Land area: 752m2
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Elevated Coastal Living with Bay Views

Elevated in one of Rye's most sought-after locations, this stunning modern residence delivers an exceptional coastal lifestyle with sweeping bay views, premium finishes and resort-style entertaining.
Designed for effortless family living, the home showcases light-filled open-plan spaces that flow seamlessly to expansive outdoor entertaining areas, where a sparkling pool and panoramic outlook create the perfect setting for relaxation or hosting family and friends.
Adding to its versatility, the property features a self-contained downstairs area, providing the ideal space for extended family accommodation, guest stays, independent living or potential dual-occupancy flexibility.
Positioned moments from Rye's beaches, cafes, golf courses and local amenities, this is a rare opportunity to secure a contemporary coastal retreat that combines luxury, lifestyle and practicality in an outstanding Peninsula location.
A home that captures the very best of coastal living, offering space, flexibility and breathtaking views in one of Rye's premier addresses.
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Property Details for 72 Observation Dr, Rye

72 Observation Dr, Rye is a 5 bedroom, 3 bathroom House with 2 parking spaces. The property has a land size of 752m2. The place is currently for sale with Flynn and Co Real Estate.

Building Type
House
Land Size
752m2
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About Rye 3941

The size of Rye is approximately 17.7 square kilometres. There are 16 parks, covering nearly 14.3% of the total area. The population of Rye in 2016 was 8416 people. By 2021 the population was 9438 showing a population growth of 12.1% 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 2021, 75.40% of the homes in Rye were owner-occupied compared with 71.60% in 2016.

Rye has 10,061 properties. Over the last 5 years, Houses in Rye have seen a -0.99% decrease in median value, while Units have seen a 5.96% increase. As at 30 April 2026:

  • The median value for Houses in Rye is $998,675 while the median value for Units is $640,646.
  • Houses have a median rent of $600 while Units have a median rent of $495.
There are currently 60 properties listed for sale, and 16 properties listed for rent in Rye on OnTheHouse. According to Cotality's data, 354 properties were sold in the past 12 months in Rye.

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Darren Sadler
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Woodards | Flynn & Co
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Flynn and Co Real Estate
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