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.
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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."