Anthony Albanese defends purchase of $4.3m coast house with fiancee

Anthony Albanese has defended buying a $4.3 million coastal home with his fiancée, saying he knows he is fortunate to earn a good wage as Prime Minister but knows “what it is like to struggle”.

As the Prime Minister faces fierce public backlash for the purchase as many struggle to put a roof over their heads, Opposition Leader Peter Dutton said it was a matter for Mr Albanese but it showed he was clearly planning for post-politics life.

Mr Albanese has exchanged contracts for the clifftop home on the NSW Central Coast and is due to settle later this month, radio station 2GB reported.

His partner, Jodie Haydon, is from the region.

The four-bedroom, three-bathroom home is described in real estate listings as having “one of the most commanding positions” on Copacabana’s cliff top, offering unobstructed ocean views and a peek of the distant Sydney skyline.

“A premiere location to enjoy sun, whale watching or spectacular sunsets year-round,” the listing says.

Mr Albanese told reporters that his intended sale of a property in his electorate would contribute to the purchase.

“Jodie and I are getting married, as is known… When your relationship changes, your life changes and you make decisions,” he said on Tuesday at an announcement about a housing project in Brisbane’s outer suburbs.

“But what I’m focused on is making sure that everyone can get a roof over their head. I’m focused on increased public housing, social housing investment.

“As Prime Minister, I earn a good income; I understand that. I understand that I’ve been fortunate, 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.”

The Opposition Leader said the purchase was a matter for Mr Albanese but his focus was elsewhere.

“They’re obviously planning for the next stage of life, post-politics, and I wish them well in that,” Mr Dutton said.

“But the homeowners in Australia that I’m worried about at the moment are people who can’t afford their mortgages.

“People have had 12 interest rate increases under this government and interest rates should come back, as they’re doing in the United Kingdom, the United States, Canada and New Zealand but because of Mr Albanese’s bad economic management, we’re seeing inflation remain higher here, and therefore the interest rates remain higher as well.”

The Copacabana property was reportedly sold for $1.7 million in 2017 before being bought by the current owners for $4.65 million in 2021.

According to 2GB, contracts for the property were exchanged in September, and settlement is due to happen by the end of this month.

The move comes after Mr Albanese pulled his investment property in Sydney’s inner west last week from going to auction on Saturday after evicting his tenant following years of “half-market” rent.

Mr Albanese’s real estate agent Shad Hassan revealed that with no “firm commitment” from an interested buyer, they decided to instead put an asking price on the home.