PM’s $4.3 million clifftop home earns double rent from typical landlord – realestate.com.au

Prime Minister Anthony Albanese will have earned himself a place among the country’s higher-earning landlords after collecting almost $75,000 in rent this year, property data shows.

The Prime Minister is currently renting out his luxury clifftop home on the Central Coast, bought in 2024 for $4.3 million, and he has told the media he plans to make it his future residence with his wife Jodie Haydon.

Records show the house with stunning views of Copacabana Beach was last listed for rent in July for $1,450 per week, up from the $1,500 per week listed in November last year.

Even with the discount, if the property were fully rented for a year, this would mean at least $75,400 in gross rental income in 2025.

Mr Albanese’s gross rental income was about double the amount brought in by the typical Australian landlord, who takes in about $668 a week in rent, or just under $35,000 a year.

MORE: Inside the homes of our prime ministers: how Albo compares

The Prime Minister bought housewife Jodie for $4.3 million.

---

MORE: Shock salary no longer seen as ‘rich’

It is not known what Mr. Albanese earns in net rental income when he accounts for expenses such as insurance, repairs, loan fees and management fees.

The Prime Minister updated his official register of interests in January to include unspecified ‘rental income’ for the clifftop mansion.

An analysis by MCG quantity surveyors in February found the rent could allow Mr Albanese to claim at least $45,000 in tax savings annually on his $564,000 prime minister’s salary. The tax savings would result from negative concessions on the debt ratio.

Mr. Albanese has made a range of real estate investments over the years.

It was reported that just before he got the best job in the country, he had a $5 million real estate portfolio, most of which has since been sold.

MORE: Lisa Wilkinson is stripped of massive $23 million record

The Prime Minister settled the sale of a property in Dulwich Hill in January.

---

MORE: Trick Rich Use to Get Mansions Over $200 Million

Then Prime Minister Scott Morrison even commented in parliament on the success of the Albanians.

“The Leader of the Opposition has bought a lot of houses,” Morrison said at the time.

“He bought a lot more than me. Good for him. Good luck to him. We celebrate success.”

One of the current prime minister’s most successful investments was a property in the western suburb of Marrickville, transaction data showed.

The then House leader bought the property in 2012 for $1.115 million and sold it nine years later in 2021 for $2.35 million, an increase of $1.235 million. The rent for 2014 was $915 per week.

Mr Albanese returned to profit in 2022 when he sold a Canberra apartment he bought in 1996 – around the time he first entered Parliament as Member for Grayndler.

MORE: Jeff Bezos adds bizarre feature to $249 million home

A former investment property in Marrickville, once owned by Albanians.

---

MORE: Former PM lives in $150 million mansion

The 2022 sales price, achieved just after he became Prime Minister, was $662,500. The 2022 price was about $500,000 higher than the $162,000 price he paid for the property.

Mr Albanese sold another investment property late last year, this time in the western suburb of Dulwich Hill, for $1.75 million. The settlement took place in January, the data showed.

The price was about $575,000 higher than what Mr. Albanese paid in 2025. The last advertised rent was $880 per week in 2018.

Rental affordability in March reached its lowest level since at least 2008, when records began, according to the PropTrack Rental Affordability Index.

A household earning the average (or typical) income of $116,000 in Australia can only afford 36 percent of rental properties advertised between July and December 2024. This is a decrease compared to the (already lowest ever measured) 40 percent that households could afford in 2023-2024.