I think shares are actually the best long term option, rather than property. But property has the advantage you can live in it, and thereby save rent money.
A term deposit/high interest savings account is ok for a year or two but is not the best option overall.
Like anything, there is risk in property or shares or any other investment option. You have to know what you're doing, do your research and manage your risk as best as you can.
Also wanted to point out that there's a difference between a principle place of residence and an investment property. We have an investment property that we paid 300k for (well thats the mortgage, actually only put in 12k of our own money), spent about 80k on renovations including converting the garage to a granny flat (some of that money came from leveraging our residence) and now the rent covers the mortgage. We added at least 50k of value to the property if we were to sell straight away but it's a long term investment as the area it's in is going up in value.
So if you consider that a chunk of the 80k spent on it is tax deductible and the rent pays the mortgage, our outlay isn't really that much. As rents go up, we'll start making money (slowly but surely!). Obviously the house we live in is a totally different beast as it doesn't provide income.
So it's important to make that distinction - home or investment - as the strategies are totally different.
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