Why more people are seeking out prestige holiday homes
A good holiday house is always the stuff of Australian summertime dreams, stirred even more by the current series of TV’s The Block, where contestants are openly marketing their wares, for the first time, as holiday homes.
But trends have marched on from the years when we’d be happy with a basic shack near the beach. Now, we love the glamour of full-sized properties with great amenities and luxe touches, like pools, barbecues and fire pits.
“At booking.com, one of our travel predictions for 2024 was that Australians would be opting for more a la carte luxury,” says Simon Clark, the platform’s Oceania communications manager.
“That means they’re looking for luxury in the holiday houses they choose but, in order to afford it, they’ll cut down on spending in other areas, like dining out. Why wouldn’t you too, if you have a place to stay with a beautiful kitchen?”
Past Block favourite Jenna Densten, with her husband Josh, bought a modest beach shack in Skenes Creek, six kilometres from Apollo Bay on the Great Ocean Road, and knows that very well.
They preserved the simple façade of the home to keep it in harmony with its surroundings but then completely extended and upgraded the building.
The couple, featured on the TV show’s 2011 season and then on the All Stars series in 2013, finally sold The Shack, and another owner now advertises it through Airbnb.
“We have a huge range of holiday homes, from the affordable to the high end,” says Susan Wheeler, Airbnb’s country director for Australia and New Zealand. “Often, families will rent together – or groups of friends – which means they can afford to choose bigger and more luxurious properties. Those are always very popular.
“The more amenities they have, the better too, like Wi-Fi, a pool, being beachfront and having a selection of board games.”
It’s also an excellent time to look at holiday homes, with tourism experts predicting a continued surge in domestic travellers.
“Last year was amazing, and we expect this year to be even better,” says David Mansfield, chair of Accommodation Australia. “I’m positive domestic tourism continues to grow and go from strength to strength.”
Ross Beardsell of JLL Australia is also optimistic. “The retiree and Baby Boomer market, in particular, are looking for experiences and to rediscover their own backyard, in particular the Mornington Peninsula and anywhere from Eden to Port Douglas,” he says. “They’re also looking for unique accommodation.”
Location is obviously crucial, too, with The Block now taking place on Phillip Island, on Victoria’s Bass Coast. According to the latest Domain House Price Report, the town hub, Cowes, has seen a median house price drop of 4.1 per cent in the last 12 months.
However, Camille Morris of local agency Stockdale & Leggo says prices are simply adjusting after massive rises during and post-COVID. “Prices doubled or more in some places and went up 50 per cent in Cowes,” she says. “So we’re just seeing some softening now.
“We have a lot of old holiday homes on Phillip Island, but prestige is in big demand, and we don’t have much of that. Anything that is beautiful luxury tends to go well. People are really looking for that now and often rent a big house with family and friends and share the cost.”
Victoria’s other big holiday destination, Warrnambool, on the south-west coast, has seen median house prices fall 2.7 per cent in the year, having risen 66.7 per cent in the past five. Yet Mildura on the Murray has had a 2.8 per cent rise.
NSW’s most popular holiday town, Byron Bay on the north coast, has seen its median rise 20 per cent over the year to $2,280,000, according to Domain figures.
“Sales volumes are continuing to increase,” says Su Reynolds of First National Byron Bay. “But it’s more difficult with holiday homes with so many limited to being let out to 60 days outside the dedicated zones.”
Meanwhile, Port Macquarie’s median has risen by 0.6 per cent, and Coffs Harbour’s has fallen by 2 per cent.
Queensland’s Gold Coast, on the other hand, is performing strongly. Houses at Broadbeach Waters have had a 2.7 per cent increase to a median of $2.1 million.
“There’s just so much demand for the Gold Coast lifestyle,” says Eddie Wardale of Kollosche. “It’s matured a lot from a touristy coastal town to a very stylish place with a lot of high-end, luxury properties. We’re finding they’re always in demand.”
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