Anthony Albanese making eye-watering amount from renting out Sydney bungalow and clifftop mansion

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Anthony Albanese making eye-watering amount from renting out Sydney bungalow and clifftop mansion

He might have grown up in public housing but Anthony Albanese is now living the high life as a landlord.

While currently residing in The Lodge, the Prime Minister is also the proud owner of two properties: a federation bungalow in Sydney and a luxe $4.3 million clifftop mansion in Copacabana on the NSW Central Coast.

Mr Albanese updated his official register of interests to list “rental income” for the four bedroom, three bathroom beachside property in January. It’s estimated he could rake in an estimated $1000 a week for the house.

For the bungalow, valued at around $2m, he is getting around $1350 a week, according to

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.

That adds up to an impressive $122,000 a year in rent.

Add this to his annual parliamentary salary of $564,356 a year, and Mr Albanese is in an enviable financial position, raking in $686,556 a year before tax as he faces the possibility of finding himself out of office after the looming Federal election.

Last year, Mr Albanese copped fierce backlash when his purchase of the Copacabana property became public, coming as it did in the midst of a cost-of-living crisis and at a time when the average *********** saw their hopes of ever owning their own home slipping out of reach.

Camera IconPrime Minister Anthony Albanese dropped $4.3m on a home for he and future wife Jodie Haydon. Credit: Unknown/Supplied

At the time Mr Albanese defended the purchase, insisting he knows “what it’s like to struggle” as he grew up in public housing.

He faced questions about the property deal while announcing an affordable housing project, saying “Jodie and I are getting married, as is known … when your relationship changes, your life changes and you make decisions.

“But what I’m focused on is making sure that everyone can get a roof over their head. I’m focused on increased public housing, social housing investment.

“As Prime Minister, I earn a good income; I understand that. I understand that I’ve been fortunate, but I also know what it’s like to struggle.

“My mum lived in the one public housing that she was born in for all of her 65 years, and I know what it’s like, which is why I want to help all Australians into a home, whether it be public homes or private rentals or home ownership.”

When asked about the purchase at the time, Opposition Leader Peter Dutton — who previously owned several investment properties but sold them in recent years — said the purchase was a matter for Mr Albanese but the Opposition Leader’s focus was elsewhere.

“They’re obviously planning for the next stage of life, post-politics, and I wish them well in that,” Mr Dutton said.

“But the homeowners in Australia that I’m worried about at the moment are people who can’t afford their mortgages.

“People have had 12 interest rate increases under this government and interest rates should come back, as they’re doing in the United Kingdom, the United States, Canada and New Zealand but because of Mr Albanese’s bad economic management, we’re seeing inflation remain higher here, and therefore the interest rates remain higher as well.”

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