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Anthony Albanese made a mistake this week when he fluffed his lines on key economics figures – but he certainly hasn’t made any errors on his property buys.
The Labor leader still lives on the same road he first moved to in 1990 when he left his mother’s humble council house.
Over the years he has snapped up four properties on the quiet street in Sydney‘s inner-west, and you won’t find a local who has a bad word to say about their astute property investor neighbour.
His next door neighbour said he even takes her bins out for her when the family goes on holiday, and buys her children Christmas presents each year.
‘He’s a lovely neighbour and he is very chatty,’ said mother-of-two, Jane. ‘He’s gorgeous with the children. He’s always got time for them – I find that amazing.
Anthony Albanese (pictured with his partner Jodie Haydon) still lives on the same road he first moved to in 1990 when he left his mother’s humble council house – and he’s now a local hero to his neighbours
He bought this home in 1990 for $146,000 – after leaving his mother Maryanne Albanese’s council-owned home in Camperdown – and sold it five years later for $186,000
‘He’s super generous and so good and thoughtful – and really candid. There’s nothing fake about him.’
Residents of the street now desperately want him to move out – but only if it’s to set up home in The Lodge as Australia’s 31st Prime Minister.
‘Fingers crossed,’ said retired neighbour Jon Mayne. ‘It’d be impossible for him to stay here with all the security that’s needed as PM – but we’d be sad to see him go.’
Mr Albanese, 58, now owns a real estate portfolio worth about $5million after some astute buys along the one street in his electoral seat of Grayndler.
He first moved there soon in 1990 after graduating with an economics degree from Sydney University, buying a modest semi-detached two-bedroom bungalow at the far end.
The then 26-year-old had just been elected Assistant General Secretary of the New South Wales branch of the Labor Party.
But although the area was largely working class then, it still boasted tranquil views over a golf course.
Anthony Albanese bought his first home on the street in 1990 for $146,000 – after leaving his mother Maryanne Albanese’s council-owned home in Camperdown
He bought the home for $146,000 – after leaving his mother Maryanne Albanese’s council-owned home in Camperdown – and sold it five years later for $186,000.
But back then, he was a far cry from the man now bidding to lead Australia.
Neighbour Jamal still lives several doors down from his first home and remembers the quiet and friendly young man who lived there in the early 90s.
‘It was a long time ago,’ she said ‘But he was a regular at the local high school, addressing the pupils even before he was an MP.’
He married former NSW deputy premier Carmel Tebbutt and the couple bought their marital home on the same street in 1996 for $242,000 – selling it just four years later for about $400,000 and pocketing a tidy profit.
They briefly moved to Newtown before buying yet another home back in the street in 2006, where he still lives today with his son Nathan, 19. His girlfriend Jordi Haydon lives nearby.
He and Ms Tebbutt also bought this impressive family home further down the road in 2012 as an investment – and doubled their money
Neighbours desperately want him to move out …and set up home in The Lodge as Australia’s 31st Prime Minister
The only outward sign the politician lives in the street are the Australian Federal Police officers quietly stationed nearby to keep watch over the three bedroom, two bathroom home, sitting on a generous 519 square metres plot.
He bought the 1920s bungalow for $997,500 with Ms Tebbutt. The couple split on New Year’s Day 2019.
Its modest frontage hides a quality renovation inside and a beautiful resort-style backyard pool, and it’s now estimated to be worth around $2.5million.
He and Ms Tebbutt also bought an impressive three-bedroom family home further down the road in 2012 as an investment property, which has doubled in value.
Another neighbour, Michael, has lived opposite for three generations and watched as the couple transformed the home with an estimated $200,000 makeover.
But he revealed its proximity to the golf course came at a price.
‘It was always getting hit by golf balls!’ he said. ‘But it’s a fantastic spot – they did well.
‘They spent a fair bit of money on it and did a great job, adding a new deck and building out the back.
‘It’s a beautiful, quiet street in a really good location – it was a deceased estate, so he probably got it cut price.’
The couple paid $1.15million for the 301square metres investment property and sold it last year for an impressive $2.35million.
The wannabe PM gaffed on day one of the election campaign when he fluffed his lines on key economic figures, but he’s made no mistakes on his property buys
Mr Albanese also owns a unit in Canberra worth an estimated $600,000, and a $1.175million investment property townhouse in Dulwich Hill, now worth about $1.9million.
But he’s still very much a man of the people, according to his neighbours, and a regular at the Christmas drinks parties held on the street.
‘Now I know him, I personally get hurt when I see people say bad things about him,’ added Jane.
Artist Kate lives nearby and regularly chats to him in between elections and his trips to Canberra.
Artist Kate lives nearby and regularly chats to the Labor leader
‘He’s a very nice man and he walks around the streets with his dog and he’s happy to talk to anyone,’ she said.
‘He’s got a proper mixed breed dog too – not one of those coodlie-doodlie Mosman things!’
She added: ‘This street is a great place to live – it’s got a very easy-going bush country feel to it even though it’s so close to the city.
‘It’s been changing from a working class area to a really diverse one, with some families here for decades but some great new people moving in too.’
She added: ‘When he bought, it would have been very different – I don’t know why he bought back then.
‘But it would definitely have been affordable with more space, but it’s very dynamic and creative now.
‘I don’t blame him at all for buying up so many homes here.’
ANTHONY ALBANESE’S MULTI-MILLION PROPERTY EMPIRE
February 1990: Leaves his mother’s council house in Camperdown, buys first home in for $146,000
August 1995: First home sold for $186,000, second home on same street bought with future wife Carmel Tebbutt for $242,000, sold for around $400,000 in 2001
December 1996: Unit in Barton, Canberra, bought for $162,000. Still owned.
August 2000: Home in Newtown bought for $646,000 with Ms Tebbutt
April 2006: Current family home is bought by the couple for $997,500
August 2006: Newtown home sold for $755,000
June 2012: Investment property bought by the couple on same street for $1.15m
November 2015: Mr Albanese invests $1.175m in Dulwich Hill rental townhouse
August 2019: Ownership adjusted on family home following the end of Mr Albanese’s marriage
September 2019: Ownership adjusted on investment property
July 2021: Couple-owned investment property sold for $2.35m