Australian Prime Minister Draws National Attention After $4 Million Property Purchase

Published on October 15, 2024

Prime Minister Anthony Albanese’s decision to buy a $4.3 million (US$2.8 million) home in a pristine beachside suburb between Newcastle and Sydney has drawn national attention during the country’s cost-of-living crisis. The Australian leader is believed to have made the purchase with fiancée Jodi Haydon. The New South Wales (NSW) oceanfront mansion was listed as sold on Sept. 23, the same day Albanese gave a press conference where he talked about the cost of living and housing issues. The Copacabana home sold to the prime minister for much more than the $1,905,000 median house price in the area. Real estate statistics also show the home has grown in value—being listed at just over $1.5 million in 2004—before being sold again in 2017 for just over $1.7 million....

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