A new analysis shows that Australia’s federal politicians are overwhelmingly real estate owners themselves. In reality, 94 percent of them own at least one property themselves. This comes at a time when leaders are still debating just how much responsibility politicians should take for the current state of our housing affordability crisis. Those findings reveal a challenging state of property ownership among legislators. Other legislators for their part own dozens of properties, or none whatsoever.
In this way, the data holds the revelation that almost a third of politicians only own one home. Almost half—48.25 percent—own at least one investment property. Perhaps the most interesting member of parliament in this context is Nola Marino, who is the largest property owner detailed in the transparency disclosures, reporting ownership of eight properties. Former ministers Karen Andrews and Michelle Ananda-Rajah each own seven properties. This only serves to highlight the growing disparity in property portfolios in the political arena.
In addition to Wong, big names like Peter Dutton and Anthony Albanese have hit the headlines with their real estate investments. Residential land acquisitions Dutton residential property, Dayboro. He’s been extremely busy using that money in the real estate arena, purchasing and flipping properties with a total value of up to $12 million and producing sales of approximately $18.8 million. His property portfolio features a palatial home in Bellevue Hill that he bought for $16.1 million in November 2020.
Prime Minister Anthony Albanese holds two properties: a residential home and an investment property. He and his now-fiancee, Jodie Haydon, recently bought a $4.3 million clifftop home in Copacabana. Albanese acknowledged his financial position, stating, “Of course, I am much better off as prime minister, I earn a good income, I understand that.”
Funnily enough, 12 MPs seem to have no properties registered in their name. The laws governing property disclosures are somewhat murky. For example, a senator doesn’t need to report on their wife’s real estate holdings.
Investment properties hold significant value in both the property holdings of Karen Andrews and Michelle Ananda-Rajah, which are held jointly with their respective partners. Andrews has six investment properties, which she co-owns with her partner. In contrast, Ananda-Rajah’s three properties had been entirely transferred to her partner.
Bob Katter recently sold a rental property that he jointly owned with his wife, illustrating the dynamic nature of property investments among politicians. The data reveals a growing trend of federal lawmakers becoming commercial property owners. Many experts have argued that these patterns of ownership are related to income demographics. Hal Pawson commented on this observation: “If you looked at the people in that echelon of above average incomes across Australia, you would find that rental property ownership was quite high amongst that group.”
Dutton has been candid about his own journey with housing. He stated, “I know what it is like to struggle. My mum lived in the one public housing [home] that she was born in for all of her 65 years.” He further emphasized his commitment to helping others achieve homeownership: “I know what it is like, which is why I want to help all Australians into a home.”
The scandal surrounding all these politicians’ property portfolios beg the question about their motivation and responsibilities when it comes to creating good housing policy. Rodney Smith noted that the information suggests that “the parties are not just driven by the private interests,” hinting at a potential conflict between lawmakers’ personal investments and their public duties.
