Victorian MP home portfolios: Almost half of state politicians own an investment or secondary residence
State parliament is teeming with politician property moguls, with nearly half owning or having a stake in an investment or secondary property. See who owns the most.
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Almost half of Victorian’s state politicians also dabble as real estate moguls, with a whopping 45 per cent of MPs owning or have a stake in at least one property aside from their main or secondary residence.
It comes as new research conducted by Newscorp revealed almosttwo in every five federal politicians with investment properties don’t list earning rent from them despite Australia’s tightest housing market ever.
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Analysis of the federal register of interests by News Corp Network found 40 politicians who haven’t listed rent from the properties as a source of income.
Additionally, Victorian parliamentary documents from July 2023 reveal that out of our 128 state MPs, 56 elected representatives have declared themselves in categories such as owning a rental property or having “beneficial interests” in land not used as a primary or secondary home.
More than 2.24 million Australians – or roughly 20 per cent of the nation’s taxpayers – possess an investment property, Australian Taxation Office data shows.
This means our state pollies have more than double the number of investment properties that the general population does, amid Victoria’s ongoing rental crisis.
Liberals David Hodgett and David Southwick are the local top dog landlords.
The Shadow Special Minister of State, Mr Hodgett, has 18 properties across Victoria, NSW, Queensland, Tasmania and the ACT — including 15 from providing a rental income.
Mr Southwick – who is the Shadow Minister for Cost of Living, among other portfolios – has 15 properties in Victoria, NSW and Queensland, which are not used as a primary residence, plus two homes.
Mr Southwick said he was “proud of having a successful career before entering parliament”.
“The lessons I’ve learnt from starting and growing businesses from the ground up are vital to understanding the challenges our state faces,” he said.
David Hodgett has declined to comment.
Transport Infrastructure Minister Danny Pearson’s holdings include four rentals, while his Labor colleague and Environment Minister Steve Dimopoulos has an interest in six properties, with four rentals among them.
Victorian Attorney-General Jaclyn Symes owns Maidstone and Point Lonsdale addresses not used as a primary or secondary residence but a state government spokesperson said they were not rentals.
Earlier this year, the Minister for Climate Action, Energy and Resources and the State Electricity Commission, Lily D’Ambrosio, removed herself from a family trust with six properties meaning she no longer has any claim to these assets.
The street addresses of politicians’ investment properties are not made public in the Victoria for privacy and security reasons.
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