The top holiday suburbs where house prices are predicted to skyrocket have been revealed.

A NORTHERN NSW suburb has been named one of the country’s top holiday destinations primed for property price growth in three years.

Bilambil Heights beat out Rosetta in Hobart, Kuluin on the Sunshine Coast and Wollongong’s Kiama to claim second place on the list of top 20 hot spots, according to SuburbGrowth.com.au.

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East Ballina topped the list. House prices are forecast to increase there by almost 28 per cent by 2022.

Bilambil Heights’ median house price is tipped to rise 26.7 per cent, or $152,000 to its current $721,000.

Select Residential Property Research Group director of research Jeremy Sheppard said the analysis focused on holiday locations that also had solid market fundamentals outside the tourism sector.

“The (Gold Coast and Tweed Heads) region is well-known for its abundance of natural beauty, which draws millions of tourists each year,” he said.

“However, suburbs like Bilambil Heights are also popular with local residents because of its topography as well as location within an easy commute of the Gold Coast.”

North Estate Agents Tweed Heads’ Steve Riding said Bilambil Heights had been a sleeping suburb for decades but was starting to come into its own.

“I have lived there for 27 years and it’s always been called a ‘poor man’s paradise’,” he said.

“When I first moved to Bilambil Heights it was a quiet little backwater (town) no one knew about, but as time has gone on people are discovering it for what it is.

“Its claims to fame are the views (which are) second to none, the Tweed shire and easy access to the beach and freeway, but it’s country living.”

Bilambil Heights ranked second on the list with house prices set to soar by almost 27 per cent.

Mr Riding said a lot of Sydney buyers had been priced out of their own market so were purchasing investment property in the area and later relocating.

“Prices are rising as we speak,” he said.

“(Buyers) see a reasonable market here that is going up in value so they secure a property, the rent pays the mortgage then when they move up two to four years down the track, they renovate it.

“It’s a good place to invest and also a good place to buy your first home.”