But what do we know about their own property journeys?
Quite a bit, courtesy of realestate.com.au which has plotted their property fortunes from first home to bottom line profits.
Here’s what it reports:
- The Opposition Leader purchased his first home at the age of 19 in 1989. It was an apartment in Yeronga, a suburb of Brisbane, which he purchased for $93,000. At the time, the median Brisbane house price was $113,000.
- The Prime Minister purchased his first home at the age of 26 in 1990. It was a two-bedroom semi-detached home in the Sydney suburb of Marrickville, which he purchased for $146,000. At the time, the median Sydney house price was $184,600.
In the 35 years or so since the pollies bought their first homes, median house prices have risen close to 600 per cent while median full-time earnings have risen just 270 per cent.
This makes it tougher now for first timers to enter the market. While those in the market, including our PM and potential-PM-to-be have cashed in some big capital gains.
“Across that time, the Opposition Leader has made approximately $6.78 million in profits on various property deals,” realestate.com.au reports.
“The Prime Minister, on the other hand, has made $3.43 million in profits on buying and selling various properties over the years.”
It reports that gains were made primarily from the buying and selling their family homes.
With the election ramping up we’ll be watching closely to see how the pollies plan to help first timers enter a market that is vastly different to when they bought in.
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