Prime Minister sells Dulwich Hill investment property for $1.75m

Prime Minister Anthony Albanese sold his Dulwich Hill investment property for $1.75 million on Friday night, securing a $575,000 profit before costs.

The three-bedroom, two-bathroom townhouse took 79 days to sell after being initially listed for auction at $1.9 million.

Albanese revised the asking price twice, first to $1.85 million before settling on the final sale price.

The Prime Minister purchased the semi-detached home in 2015 for $1.175 million.

The sale price fell below Dulwich Hill’s median house price of $2.29 million over the past year.

The property made headlines earlier this year when tenant Jim Flanagan, 45, spoke about receiving a 90-day eviction notice after four years of occupancy.

Flanagan told Sunrise he could face homelessness and had hoped to negotiate a rent increase to remain in the property.

Albanese attributed the sale to “changing arrangements” following his purchase of a new property with fiancé Jodie Haydon.

The couple bought a $4.3 million clifftop mansion on Copacabana Beach on the Central Coast in October, financed through Commonwealth Bank.

The Prime Minister’s property portfolio now includes the Copacabana property and a Marrickville house purchased for under $1 million in 2022, which has since doubled in value.

Albanese’s first property purchase was a $146,000 Marrickville semi in 1990 at age 26, which he later sold for a profit.

He also sold his Canberra apartment in 2022 for $660,000, having purchased it for $162,000 in 1996.

The property sale concluded a busy week in Parliament where 45 bills passed, including new first home buyer scheme and build-to-rent regulations.