Australian Prime Minister Anthony Albanese is facing criticism after purchasing a multimillion-dollar waterfront home amid a national housing crisis.
The 4.3 million Australian dollar ($2.9 million) clifftop property is located in Copacabana, north of Sydney. Critics argue that the purchase shows Albanese is out of touch with Australians struggling with high interest rates, rising prices, and limited housing supply.
Albanese addressed the criticism on Wednesday, stating, “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.”
Some opposition lawmakers, including Sussan Ley and Angie Bell, questioned the timing of the purchase, calling it “questionable” and suggesting it demonstrated how disconnected Albanese is from ordinary Australians.
Lawmaker Paul Fletcher added, “The real issue for Australians is a lot of people want to be able to buy a home, but they’re finding it very, very difficult and the current government is doing a very poor job at getting the policy settings in place to make it easier.”
However, government lawmakers have defended Albanese. Cabinet minister Chris Bowen commented, “I think the average Australian says, ‘Fair enough, leave him alone, I’ll criticize his policies or I’ll support his policies, I’ll criticize or support his government, but I’m not going to criticize or support what he does with his own bank account with his own money.’”
Albanese’s Labor Party is seeking a second term in office with elections due by May next year. Monash University political scientist Zareh Ghazarian described the decision as “politically risky” due to housing affordability likely being a top election issue.
Albanese maintains that his upbringing in public housing by a single mom has given him an understanding of the financial struggles of low-income families. He explained that he is buying the house in Copacabana because his fiancee Jodie Haydon’s family lives on the Central Coast, and he plans to sell his private Sydney house to help pay for it.
“I am much better off as prime minister. I earn a good income. I understand that. I understand that I’ve been fortunate,” Albanese said. “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.”