Australians don't want to know how prosperous the Prime Minister has become! They want action that will benefit them - not to be told they're not part of the 'Albo tribe'! The real issue for Australians is a lot of people want to be able to buy a home, which has become increasingly unaffordable.

23 October 2024

ALAN HAYES

 

PRIME Minister Anthony Albanese had dipped in toes firmly in the housing market prior to his recent splurge on a $4.3m beach home, perched atop a Copacabana cliff and overlooking the Pacific Ocean.

 

Albo’s most recent purchase could push the total value of his real estate holdings to roughly $8.8 million – although he is in the process of trying to offload a property.

 

Analysis of historic real estate records showed that the PM has pocketed large sums from properties he purchased years ago while still a backbencher on a more modest salary. Yet it was those astute moves that were more than likely the foundation of a now fairly substantial property portfolio.

 

It was also reported that Albanese had a $5 million property portfolio just prior to getting the nation’s top job, part of which has since been sold.

 

Then Prime Minister Scott Morrison even commented in parliament about Albanese’s success.

 

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

 

Prior to buying his Central Coast property last month, the jewel in the Prime Minister’s property portfolio was a Marrickville house estimated to be worth over $2.6 million.

 

Mr Albanese’s declarations to parliament revealed there was no mortgage on the property.

 

Nobody begrudges anyone from becoming a real estate mogul, but public perception, when you ‘crow’ about being better off than most, could quickly turn the tide of fortune. Albanese was not humble when asked if the Copacabana purchase was a “good look” – he said that he understood that he was “much better off” as prime minister.

 

“I understand I [am] fortunate. I also know what it is like to struggle,” the PM was reported as saying.

 

“My mum lived in the public housing that she was born in for all of her 65 years.”

 

The purchase of the Copacabana property is not about what is was like to grow up in public housing, nor was it about the Prime Minister's mother – it was about whether the PM should be seen to be gloating – congratulating himself – on his fortunate life. But Albanese’s continual public programming of where he came from and his political brand has now been damaged by hubris.

 

Albanese, who is paid an annual salary exceeding $600,000, has unashamedly gloried over the fact that he could afford his new home because of his financial and political position, and that he intended to remain Prime Minister.

 

Albanese’s centre-left Labor Party is seeking a second three-year term in office at elections due by May next year, which now raises the obvious question: “How will Albanese’s demeaner be viewed by Labor voters? Particularly those voters struggling to keep or put a roof over their head?”

 

Already there has been massive criticism over the Copacabana purchase – including concerns raised privately within Albanese's own government – he is out of touch with many Australians, who are struggling to buy or rent a home due to elevated interest rates, rising prices and limited supply.

 

And what did Albanese do? He merely brushed the naysayers aside and said, “We want to get on with helping Australians, whether it be public housing, whether it be rentals or whether it be buying their own homes.”

 

The real issue for Australians is a lot of people want to be able to buy a home, but they’re finding it extremely difficult to do so. Why? Because the current government is doing a very poor job at getting the policy settings in place to make it easier for them to put a roof over their head that they own. They don’t want to know how prosperous the Prime Minister has become! They want action that will benefit them!

 

Yet there is little doubt that Albo’s ‘purchase’ is politically risky ahead of an election in which housing affordability will be at the top of the policy agenda . It displays his lack of political and social understanding of what people are experiencing.

 

A Labor MP was reported as saying: “The 'stupid' timing ahead of next year's election indicated Mr Albanese had 'already checked out' and was 'already thinking' about what's next.”

 

Top Australian polling analyst Kos Samaras was reported as saying, “Mr Albanese was jeopardising the support of crucial voting groups by flaunting his wealth at a time when an increasing number of Australians were struggling to get by.”

 

“In a country where we are now all about which tribe you belong to, he's just projected very clearly that the low-income constituencies, upon which Labor relies, are not part of his tribe,” Mr Samaras said.

 

Many Australians view the Albanese Copacabana purchase as what is now fundamentally wrong with housing. A system that has been created where a property investor can buy a $4.3m beachfront home, while millions can't even find an affordable rental, let alone buy a house of their own.

 

The road to the king’s palace

 

Avoca Drive, the road leading to the 'King’s Palace’, is set to be paved with gold, due to the generosity of the Australian exchequer. More than $100 million in taxpayer funds will be spent to upgrade the main road, which leads to Prime Minister Anthony Albanese’s new $4.3 million beach house.

 

Albanese said, “The Australian Government is committed to improving road safety, through infrastructure projects across the Central Coast that will ensure the safety of our community is prioritised.

 

The upgrade of Avoca Drive, which includes widening the section between Carrak Road and Killuna Road intersections, will improve traffic flow and safety.

 

This work is due to commence construction in mid-2025 and be to be completed by late 2028.

 

Not a good look - yet not surprisingly though, Anthony Albanese has come under fire for announcing the $100million upgrade for a road leading to his controversial new $4.3m clifftop mansion.

 

Initially, he pledged $30million for the project during the 2022 federal election campaign, but in February 2023, he increased the funding by a further $70million, bringing the total to $100million.

 

When the purchase of the ‘Albo Palace’ broke, the PM was question about whether he was planning to purchase a home in the area when he announced the taxpayer-funded upgrade.

 

“This upgrade will greatly improve safety and reduce congestion on Avoca Drive, ensuring motorists get to their destination faster, and safer,” Albanese said.

 

Avoca Drive is the main thoroughfare Mr Albanese would use when travelling between Sydney and his new home.

 

A spokesperson for the Prime Minister said funding for the road was unrelated to his purchase of the home.

 

Despite the rhetoric, or just the bad timing, the Avoca Drive upgrade is not a good look – a brand new road to the ‘Kings Palace’!

Name (First & Last):

Email:

Submitting Form...

The server encountered an error.

Subscription received.

SUBSCRIBE