Inside Prime Minister Anthony Albanese’s $5 million property portfolio

He came from humble beginnings after growing up in public housing – but today, the PM boasts a multimillion-dollar property portfolio.

Prime Minister Anthony Albanese has amassed a $5 million property portfolio and he owns his $2.5 million Marrickville house and a $600,000 Canberra apartment mortgage-free, according to new financial records lodged with parliament.

Despite his humble beginnings in public housing, the Prime Minister’s declaration to parliament reveals he only has one mortgage on a third investment property in Sydney.

When you include his two taxpayer-funded homes – the Lodge in Canberra where he is based, and Kirribilli in Sydney – he now has access to five residential homes.

Mr Albanese also scored a huge pay bump after the election, and now earns $564,356 – before allowances – after he secured a 2.75 per cent pay bump on July 1.

Mr Albanese’s climb up the property ladder began in 1990 when he bought his first home in Marrickville for $146,000.

Perhaps, it also provides a clue as to why the Labor leader dumped his predecessor Bill Shorten’s plan to curb negative gearing – given he has steadfastly amassed his own property fortune.

Former Prime Minister Scott Morrison has previously had a dig at Mr Albanese’s property wealth in parliament.

“The leader of the Opposition has bought plenty of homes,’’ he said.

“He’s bought plenty more than I have. Good for him. Good luck to him. We celebrate success.”

The disclosure paperwork surrounding the Prime Minister’s financial affairs, which was lodged on August 23, reveals that the only property that he has a mortgage for is an investment property in Dulwich Hill with the Commonwealth Bank.

He also doesn’t declare any rental income for any of his three portfolios – although not all MPs stipulate investment income if they already note the property is for investment purposes.

Mr Albanese owns a Federation bungalow in Sydney’s Marrickville worth some $2.5 million, which he bought for $997,500 in 2006.

Seven years ago he also purchased an investment rental property in Dulwich Hill worth around $1.9 million, that he bought for $1.175 million in 2015.

He also owns a Canberra pad for when he’s in parliament worth around $600,000, that he bought for $162,000 in 1996.

Given that he now has access to two taxpayer-funded homes in Canberra and Sydney, it’s not known if he uses or spends time at any of his three homes in his $5 million portfolio.

The declaration also holds no clues as to whether his new partner Jodi Haydon owns any shares or property, with “not applicable” stated on the form.

It simply states that she works for the Teachers Mutual Bank and has super with Australian Super.

Gifts declared include a bamboo bicycle that he was photographed riding around the grounds of Bogor Palace, Indonesia on with the president of Indonesia, Joko Widodo.

The register also reveals Peter Dutton has off-loaded a Townsville property that has caused him grief over the years.

News.com.au revealed in 2020 that then Home Affairs Minister Peter Dutton had failed to declare a million-dollar property his family owns in Townsville, in a blunder his office is blaming on simple human error.

In his official declaration to parliament, the Queensland MP has listed a number of properties that form part of his family’s $5 million investment portfolio.

They include properties co-owned with his wife Kirilly, a Queensland businesswoman, including a luxury Palm Beach, Queensland weekender.

Mr Dutton, who receives the base salary and an 85 per cent loading, has an annual income of $401,561.

Meanwhile, backbench Labor MP Andrew Charlton has revealed he owns three homes in Parramatta, Bellevue Hill and Woollahra that are all listed as “residential/investment”.

Dubbed a “Wannabe westie”, Mr Charlton’s electorate of Parramatta is a world away from his $16 million plus mansion.

He bought the property for $16.1 million at auction in November 2020.