The pair, who first met when the 25-year-old was working as a waitress at the Byron Bay General Store, were seen eating brunch in Lennox Head, south of Byron Bay, after returning from a ski holiday in Thredbo over the weekend.
Last week, The Daily Telegraph published photos of the pair arriving at Ballina Airport after skiing in the Snowy Mountains.
Mamamia talks to Zac Efron and Zendaya about filming The Greatest Showman. Post continues below video.
The publication reported Valladares had quit her waitressing job and had been staying with Efron in Belongil, where he has been renting a beachfront property.
Speaking to PEOPLE, a source shared that Efron first met Valladares in June.
"Zac met Ness earlier in the summer. They started hanging out in July and recently took a ski trip together," the source claimed.
"You can tell that they are having fun. She spends a lot of time at this house."
As more details of the couple's rumoured relationship emerges, we decided to take a look back at Zac Efron's lengthy relationship timeline.