Home buying intentions increased in February to the highest level since the Commonwealth Bank’s Household Spending Intentions data series started in 2015.

CBA said home loan applications and Google searches were up on the month and well up on February 2020 levels.

Meanwhile, a survey commissioned by ING found that residential property investors are increasingly looking at holiday towns as places to invest.

Thirty-two per cent of those surveyed said they are considering purchasing an investment property in a holiday location, compared with 30 per cent in the inner city and 37 per cent in the counter suburbs.

ING head of home loans, Julie-Ann Bosich, said the research suggests that the recent pick-up in local travel, while overseas travel is still restricted, has prompted investors to look at the potential of holiday destinations.

Holiday towns are also seen to offer value for money and a quieter lifestyle.