Media release - 12^th November, 2012

East coast destinations set for a busy summer

Executive holiday home lettings up 28% on NSW Central Coast
Sun seekers return to QLD’s Surfers Paradise with holiday lettings up by 20%
Bookings up 15% on NSW south coast
Fraser Coast holiday market set for busy lead-in to Christmas

With less than six weeks left in the school year, and despite the consistently strong Australian dollar, leading east coast holiday destinations are gearing up for a stronger holiday letting market for Summer 2012/13, according to leading real estate group Raine & Horne.

On the NSW Central Coast, Raine & Horne Terrigal/Avoca Beach is reporting that demand for executive holiday lettings are up 28% compared to this time last year, while holiday home occupancy rates are as much as 20% stronger on Queensland’s Gold Coast.

While the demand for executive, beachfront homes in Terrigal and Avoca is up almost 30% on 2011, Yvette Harris, Holidays Manager at Raine & Horne Terrigal/Avoca Beach, says it is closer to 50% stronger 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.”

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.

A case in point is 26 Oceanview Drive, Wamberal that Raine & Horne Terrigal/Avoca let recently for $4,500 a week.

“With easy access to Wamberal and Terrigal Beaches, the stunning five-bedroom home offers all the mod cons, is close to a number of excellent restaurants and offers a panoramic view across Wamberal Lagoon.”

Similarly on the popular NSW south coast, Adam Porteous, Principal of Raine & Horne Batemans Bay, which has 145 holiday homes under management, is reporting an improvement in bookings compared to the same time last year.

“We are currently 60% booked for the Christmas period where it was about 45% at this time in 2011,” says Mr Porteous, who confirms waterfront homes will rent for up to $4,000 over summer, while one bedroom units lease for $1,650 a week.

“We are currently leasing about 10% of our rentals each week.

“Bookings will increase significantly in November and we expect to be at 100% capacity by the third week of December,” confirms Mr Porteous.

“As such I wouldn’t leave a holiday booking until the last minute – jump in now while we still have some capacity.”

The same can be said for Queensland’s Gold Coast, where Raine & Horne Surfers Paradise reports that occupancy rates for holiday homes were up by 20% in October, compared to 12 months prior.

“The market is definitely more active this year when compared to the same time last year,” says Clark Brackenridge, Principal of Raine & Horne Surfers Paradise.

“In October 2011, our holiday letting occupancy rates were at 70%, but this year’s October holiday period saw a marked improvement with occupancy rates increasing to 90%,” says Mr Brackenridge, who suggests the region’s improved weather is luring sun seekers back to the Gold Coast.

Mr Brackenridge confirms a one bedroom apartment in Surfers Paradise will set holidaymakers back about $130 a night.

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.”

For those considering a Fraser Coast stopover this Christmas, Raine & Horne Hervey Bay is leasing a set of three apartments in the Baiavista apartment complex in Hervey Bay from $1,000 a week.

“The complex is directly across from the beach and each apartment is fully furnished and would make an ideal getaway for a family or a large group over Christmas,” says Mr Cockerill.

For the latest information on holiday home availability for the summer 2012/13 holidays visit rh.com.au.

–ENDS–

For further media information contact:

Andrew Harrington, National Marketing & Communications Co-ordinator on 02 9258 5400

Christmas holiday lettings up almost 30% in some markets, says Raine & Horne