Purchasing Australian homes is seen as a safe option in a turbulent investment climate, an expert has claimed.
Charles Tarbey, chairman of Century 21 Australasia, pointed out that residential property has often been seen as a reliable long-term solution for investors who do not wish to get involved in the volatile equities market.
He noted that instability in Europe, softening growth in the Chinese economy and negative consumer sentiment have all driven "extreme fluctuations" in the Australian stock market.
"With good stock levels, stagnant or depressed value growth of late and many buyers sitting on the sidelines – market conditions continue to favour purchasers [of Australian homes]," added Mr Tarbey.
However, the chairman did stress that those looking for short-term gains should be conscious of the fact that the Australian property market may take several years to regain peak prices.
Australian shares finished flat today (June 28th) as investors waited on further data from the EU, reports the Herald Sun.
Posted by Steve Douglas
