The three biggest mistakes young people are making when it comes to investment – and it’s bad news if you own an apartment

PHOTO: Despite house prices hitting record highs, apartments in some suburbs have barely increased in value during the past three years, with demand weak for one-bedroom units. Pictured is the Opal Tower at Sydney Olympic Park 

  • Young investors are urged to avoid trying to pick the bottom in the share market
  • They are also be warned about the pitfalls of trying to get rich quick with stocks
  • Afterpay’s share price has multiplied from a low of $8.80 to $158 in one year  

Young Australians are making three fundamental investment mistakes in the share market and through buying property.

The past year has certainly been a financial roller coaster with the Australian share market a year ago plunging by 33 per cent in just one month following the Covid shutdowns.

But since that low point of March 2020, the benchmark S&P/ASX200 has surged by 41 per cent, despite the coronavirus recession and the deepest economic downturn since the 1930s Great Depression.