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Australia’s politicians among nation’s most aggressive investors. Your local polly …
Image: Flickr, Donkey Hotey
The politicians charged with tackling the thorny issue of spiralling house prices are among the nation’s most aggressive property investors, an analysis by the ABC has revealed.
The 226 individuals own 523 properties between them and about half of them own investment properties.
Among the general population, the rate of investment property ownership is about 10 per cent, according to the Reserve Bank of Australia.
The average number of properties owned by investing politicians is 2.1.7.
It’s comprised of Finance Minister Mathias Cormann, who owns two residential and three investment properties; Treasurer Scott Morrison, who owns a home at Dolans Bay; and Prime Minister Malcolm Turnbull, who with his wife Lucy owns several properties, including a home at Point Piper and an apartment in Canberra.
Home ownership rates among Indigenous Australians are much lower than the national average, according to the ABS. Young migrants are also far less likely to own property, according to an analysis of ABS data.
Quite a few politicians have declared property investment companies or trusts but not the properties owned, so the real number of properties owned could be higher.
• ABC: How many properties does your local politician own?
ABC