He’s not much of investor, our Albo.
Prime Minister Anthony Albanese’s rollercoaster ride on the property market continues. Having sold his $1.75m Dulwich Hill investment townhouse last month after reducing his expectations from $1.9m, Mr Albanese and fiancee Jodie Haydon this week turned their attention back to their Copacabana acquisition.
The couple had initially listed the clifftop home with $1900-a-week rental hopes following its November settlement but that’s now been reduced to $1500.
…At $1900 a week, the clifftop property’s yield reflected 2.3 per cent, but at $1500 it is 1.82 per cent.
After inflation, Albo is losing roughly 1% on his investment before tax fiddles
Still, spare a thought for yourself.
Albo also misallocated $100 million in taxpayer dosh to pave his approach road with gold and, if that is financed via the ten year bond, the return will be about -1% per annum in real terms as well.
Unless, of course, said paving of the driveway is to boost productivity, GDP and the tax take by the same amount.
Strangely, there is no independent modelling by which to judge.
