Wouldn’t it be nice to have a holiday home you can go to when you need a break or a change of pace? With a holiday home, you don’t have to worry about planning a vacation or booking accommodation.
Not only do you have the advantage of a comfortable home away from home at your favourite holiday destination, but you also have the option of renting it out when you’re not occupying it as a source of extra income.
This is the dream for many Aussies. With so many holiday home hotspots in Australia, there’s certainly one that will suit different needs and budgets. Here we rounded up the best holiday home hotspots in 2019.
2019 Australian holiday home hotspots
Sunshine Coast, QLD
The Sunshine Coast attracts more than 3.2 million visitors a year according to the Sunshine Coast Daily. If you’re looking for a holiday hotspot where an empty rental property is never a problem, this is an excellent place to invest in.
There’s also a lot of fun activities for everyone, including beaches, nightlife, festivals, lakes, waterfalls and the famous Australia Zoo and Aussie World. The Sunshine Coast is a good option if you live in Brisbane because you can easily catch the train to various stations in the Sunshine Coast area.
Property prices: Predictions say that property prices here will see an increase of two to 6 per cent in 2019. Rents are predicted to go up between two and five per cent, according to a report by QBE.
Where to buy:
- Coolum Beach: A beachside suburb with esplanade cafes, views of Mount Coolum, and twilight markets, Coolum Beach makes a great spot for a holiday home. The median house price is $675,000. Rental properties here have a low vacancy rate. Expect a 3.9 per cent rental yield for houses and 4.6 per cent for units.
- Caloundra: Incredible beaches, a twilight market scene, and plenty of commercial facilities make Caloundra one of the best holiday spots on the Sunshine Coast. The median house price is $555,000. Rent prices are slowly increasing, and the monthly rental yield is 4.3 per cent for houses and 5.1 per cent for units.
Coffs Harbour, NSW
Nestled between Sydney and Brisbane, Coffs Harbour is one of the largest urban centres on the north coast of New South Wales. There’s a lot of things to do for every demographic. Popular activities include Muttonbird Island Nature Reserve for birdwatching and dolphin-spotting, North Coast Regional Botanic Garden for a scenic experience, the Big Banana Fun Park for young families, and much more. With plenty of fun things to do in the area, your property will always be in demand.
Property prices: Average annual price growth in the area is 3.98 per cent for houses and 3.90 per cent for units according to CoreLogic. The median price is $500,000 for houses and $332,500 for units.
Where to buy:
- Sapphire Beach: Located north of Coffs Harbour, Sapphire Beach’s median house price is $759,000 for houses and $427,000 for units. The median rent is $550 per week, and the median rental yield is 3.76 per cent.
- Emerald Beach: A famous getaway destination for families, Emerald Beach is a great place for fishing, swimming, barbecuing, and picnics. The median rent is $460 a week, and the rental return is 4.17 per cent. The average house listing is $623,000, and for units, it’s $567,000.
Adelaide has seen steady growth in the market compared to Melbourne and Sydney. It’s one of the most affordable capital cities to live in, which makes it one of our top holiday hotspots to consider this year.
It offers a relaxing lifestyle with a thriving art scene. If you’re a history buff, adventure seeker or someone who adores culture, this is the place for you. Adelaide is filled with historical heritage sites. There’s the iconic River Torrens where you can kayak or canoe and the Cobbler Creek Recreation Park, which is famous for mountain biking. Plus, the famous Barossa Valley wine region makes for an ideal day trip just an hour from the CBD.
Property prices: Adelaide homes have a median value of $636,592 and a rental yield of 4.07 per cent. For units, the median value is $421,714, and the rental yield is 5.41 per cent.
Where to buy:
- Walkerville: An attractive and trendy suburb, Walkerville is home to many beautiful parks, notably the River Torrens Linear Park. It’s only 8 minutes away from the CBD, which ensures it’s in high demand. The median house value is $1,190,000, with an annual growth of about 10.8 per cent. The median unit price is $372,500, with a gross rental yield of 6 per cent.
- Findon: Property values here are expected to grow this year. With good value for money and located only 22 minutes from the CBD, now is the best time to consider buying an investment property. The average house value is $499,136, with a rental return of 4.13 per cent. The median price for units is $341,380.
Laidback yet charming, Hobart is one to watch out for this year. Hobart’s house values increased by 5.7 per cent, and apartment values grew by 6.9 per cent over the past year. It is home to MONA or Museum of Old and New Art where visitors can view a carefully curated collection of eclectic art. Hobart also has many stunning scenic landscapes like the River Derwent and Bruny Island. The city is also a haven for foodies who are after farmers’ markets and artisan food.
Property prices: The median value is $783,293 for houses and $596,190 for units. The average rental return is 3.18 per cent for houses and 5.19 per cent for units.
Where to buy:
- Kingston: A modern, vibrant holiday hotspot, Kingston continues to have a solid price growth and rental yield of 5.17 per cent for houses and 5.33 per cent for units. The average house costs $465,289 while a unit costs $362,022.
- Clarendon Vale: The median house price is just $187,146 with a rental yield of 7.69 per cent, making Clarendon Vale an affordable place to buy with decent returns.
The property market in Canberra is known as a quiet achiever. The property values have seen a growth of 3.1 per cent over the last year. Lonely Planet ranked Canberra as one of the world’s three hottest travel destinations last year. Places like the Australian War Memorial, New Parliament House, Lake Burley Griffin and Mount Ainslie warrant a visit.
Property prices: Canberra homes have a median price of $722,440 and units have a median price of $426,719. It is expected that Canberra will see a 10 per cent growth this year up to 2021 according to a report by QBE.
Where to buy:
- Macquarie: Located 7km away from Canberra’s CBD, Macquarie has a median house price of $690,000 with a rental yield of 4.06 per cent, while units have an average price of $390,000 with a rental yield of 5.07 per cent.
- Belconnen: This holiday hotspot contains essential amenities in the district such as Belconnen Town Centre and Lake Ginninderra. Investors will enjoy a 4.24 per cent rental return on houses and 6.13 per cent on units. The median house price is $506,378, and the median unit price is $366,961.
There’s a lot of things to consider before buying a holiday home. Think about how often you’ll occupy it and learn more about property management. Location is crucial when buying an investment property. You may adore the area, but not a lot of people may want to rent it out. Study the area’s future growth, current rental returns and vacancy rate to make sure you truly reap the benefits of owning a holiday home.