Bold moves that landed Premier Anthony Albanese $8.8 million property empire – realestate.com.au

Premier Anthony Albanese has made some savvy moves in the housing market ahead of his latest splurge on a $4.3 million beach house on the Central Coast.

An analysis of historical real estate records showed that Mr. Albanese pocketed large sums of money from properties he bought years ago while still sitting back on a more modest salary.

Many of these smart moves were likely the basis of a now-sizable property portfolio that closed when we built a cliff-top house near Copacabana Beach.

could bring the total value of his real estate to about $8.8 million — though he's trying to unload the property.

Mr Albanese has also used the property as a vehicle to build wealth beyond his basic prime ministerial salary.

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The Prime Minister's most recent purchase was a luxury home in Copacabana.

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He reportedly owned a $5 million property portfolio before landing the country's top job, some of which has since been sold.

Later, Prime Minister Scott Morrison even commented on Albanese's success in parliament.

“The Leader of the Opposition has bought many houses,” he said.

“He took a lot from me. Good for him. Good luck to him. We celebrate success.”

According to transaction records, one of the Labor leader's most successful real estate investments was a property in Marrickville in Sydney's inner west.

The then-leader of the house bought the property for $1.115 million in 2012 — a time when the suburb was rapidly gentrifying.

Mr. Albanese and then his partner, Carmel Tebbutt, later rented the house, with rent listed at $915 a week in 2014, property records showed.

Anthony Albanese has built a substantial portfolio for himself over the years.

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Many of his properties were sold for huge profits.

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Values ​​in the area have risen in subsequent years, and the property sold in 2021 for $2.35 million — $1.235 million more than the couple paid.

Mr Albanese's first home purchase was on the same Marrickville street: a two-bedroom, single-level house in 1990 for $146,000.

This was slightly below the average house price in Sydney at the time.

He sold it in 1995 for $186,000, a 27 percent markup on the price he paid.

Mr Albanese made a profit again in 2022 by selling a Canberra apartment he bought in 1996 – around the time he first joined parliament as the member for Greindler.

The 2022 sale price was $662,500, nearly $500,000 more than the $162,000 he paid.

The Canberra property was sold just months into his tenure as prime minister.

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Anthony Albanese bid at the 2006 Marrickville auction with his then partner Carmel Tebbutt. Photo: Matthew Vasilescu

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The same Marrickville property is available for rent in 2022 for $1,350 per week.

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He is also trying to sell. The property was due to go to auction last week with a guide of $1.9 million.

It was later removed from the auction and the guide dropped to $1.85 million.

Mr. Albanese bought the property in 2015 for $1.175 million. If he had sold it at the new driven price, he would have made a resale profit of about $675,000.

Before he bought his Central Coast property last month, the jewel in the Prime Minister's property portfolio was his Marrickville home, estimated to be worth more than $2.6 million.

A three-bedroom house with a pool on the same street as both his first home and later Marrickville investment property last changed hands in 2006 for $997,500.

Albanese is still trying to invest in Dulwich Hill. Photo: NewsWire / Max Mason-Hubers

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The Marrickville home where the Albans made a $1.23 million profit.

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Mr Albanese's declarations to Parliament revealed there were no mortgages on the property.

An automated appraisal by research group CoreLogic pegged the home's value at $2.27 million to $3.01 million, with the most likely estimate at $2.65 million. That's about $1.65 million more than the property last sold for.

The property, which was once Albo's home, was listed for rent in 2022 for $1,350 a week.