Those who have bought Australian property must act with patience, rather than attempting to sell it quickly, an expert has advised.
Lauren Cross, writing for Australian Property Investment Magazine, has emphasised the value of patience when holding onto an investment house.
She said that while ''generation Y" has always been brought up to expect instantaneous gratification, in periods of low capital growth it is important to learn to deal with the frustration of having to wait.
Jan Somers, of Somersoft Property, told the news provider: "There's always a temptation to sell in the down times because it’s not making money. There's always temptation to sell in the growth times because you want to cash in."
Earlier this week, Nomura economist Stephen Roberts told Business Day that the most recent rise in housing finance in New South Wales could signal the beginning of the region's housing revival, as availability has now risen for three months in a row.
Posted by Craig Francis
Lauren Cross, writing for Australian Property Investment Magazine, has emphasised the value of patience when holding onto an investment house.
She said that while ''generation Y" has always been brought up to expect instantaneous gratification, in periods of low capital growth it is important to learn to deal with the frustration of having to wait.
Jan Somers, of Somersoft Property, told the news provider: "There's always a temptation to sell in the down times because it’s not making money. There's always temptation to sell in the growth times because you want to cash in."
Earlier this week, Nomura economist Stephen Roberts told Business Day that the most recent rise in housing finance in New South Wales could signal the beginning of the region's housing revival, as availability has now risen for three months in a row.
Posted by Craig Francis
