As the weather gets warmer holiday makers are flocking to hot spots on the east coast, with some markets up almost 30 per cent from last year.
According to real estate group Raine & Horne leading east coast holiday destinations are gearing up for a stronger holiday letting market for summer 2012/13.
Despite a tough market, the occupancy rate for holiday homes on Queensland’s Gold Coast was up 20 per cent in October, compared to the same time last year according to Raine & Horne Surfers Paradise.
“The market is definitely more active this year when compared to the same time last year,” Clark Brackenridge, principal of Raine & Horne Surfers Paradise said.
“In October 2011, our holiday letting occupancy rates were at 70 per cent, but this year’s October holiday period saw a marked improvement with occupancy rates increasing to 90 per cent.”
On Queensland’s Fraser Coast, holiday bookings are expected to surge in the next few weeks, according to Graham Cockerill, principal of Raine & Horne Hervey Bay.
“Hervey Bay is one of the best spots to whale watch in Australia, and as we’re just a stone’s throw from Fraser Island, we expect summer holiday bookings to pick up heading into Christmas.”
While on the NSW Central Coast, Raine & Horne Terrigal/Avoca Beach is reporting that demand for executive holiday lettings are up 28 per cent compared to this time last year and up almost 50 per cent when compared to 2010.
“Our international guests are occupying all of our big executive lettings, sight unseen, and we are finding houses are proving more popular than apartments this Christmas, which is different to last year,” Yvette Harris, Holidays Manager at Raine & Horne Terrigal/Avoca Beach said.
Ms Harris confirms the majority of the holiday executive rentals range in price from $4,500 to $13,000 a week at Christmas, and are being snapped up within two or three days of hitting the summer holiday letting market.