Holiday homes tipped to be the next real estate boom

PHOTO: This Queenslander house in Cairns sold for $500,000 in November 2019.Supplied: Elite Real Estate

If you have ever dreamt of buying a holiday home, or making a tree or sea change, now might be the time to make that purchase, according to several leading property analysts.

Key points:

Once struggling regional areas are starting to see house prices rise
House prices in 20 regional towns are tipped to see growth above 20 per cent in the next three years
House prices in East Ballina are tipped to see the most growth of any regional location in Australia

As property prices in the bigger capital cities start to jump again, that growth is also starting to be felt in regional areas.

Property analysis firm CoreLogic’s latest number crunching shows home prices in 25 of the 42 regional areas in Australia rose in the three months to November.

Much of that extra cash is going towards desirable tree or sea change areas, observed Tim Lawless, CoreLogic’s head of research.

“A lot of equity is going into these lifestyle markets,” he explained.