- One of four houses Anthony Albanese owns is for sale
- 94% of all federal politicians own at least one hosue
- Purchased the property in 2012 for $1.115M
The Leader of the Opposition, Anthony Albanese, is selling his Marrickville investment property in Sydney’s inner west.
Previously on The Property Tribune, we investigated the housing status of federal politicians. Based on publicly available data at the time, 94% declared they own at least one property. Many own two or more properties, such as Mr Albanese himself.
In 2019 after the last election, Mr Albanese declared he owned four properties across Sydney and Canberra, two of which were owned by himself and his former spouse, Carmel Tebbutt.
Along with the investment property in Marrickville, he shared another personal residence in the same suburb with Ms Tebbutt, although in late 2019 the title deeds were transferred to him alone. Additionally, he owns a personal unit in Canberra and another investment property in Dulwich Hill.
Scheduled for an auction by The Agency on 7 August, the three-by-two 1930s-era bungalow sits on a 297 square metres corner block across from Marrickville Golf Club.
Mr Albanese and Ms Tebbutt paid $1.115 million for the property back in 2012 – the year before he briefly became Deputy Prime Minister after Kevin Rudd toppled Julia Gillard in July 2013.
The price guide is a reported $2.1 million.
Marrickville is an inner west suburb of Sydney, located just seven kilometres south-west of the Sydney CBD and is home to over 26,500, according to the last ABS Census.
Marrickville – 2204
[Select part of the chart to zoom in on various years, and ‘reset zoom’ button to return]
Like much of Sydney, asking prices for property in Marrickville have increased significantly. At the beginning of the last decade, the asking price for all houses was $792,869. As of July 2021, it is $1,353, 575. This figure is slightly below the peak price of $1,598,102 recorded in February 2018, although later last year $1,568,647 was recorded.
If Mr Albanese wins the election – which has to be held by 21 May 2022 – he won’t have any shortage of property.
The Prime Minister of Australia has two official residences – The Lodge in Canberra, a 40-room Georgian revival style mansion located on 4.4 acres which was built in the 1920s as a “temporary residence”, and Kirribilli House in Sydney.
Based on land valuations of nearby properties, Kirribilli House could be worth more than $50 million – not bad for a secondary residence.