Australian PM faces criticism for buying multimillion-dollar waterfront home during housing crisis

Australian Prime Minister Anthony Albanese’s recent property purchase has drawn the ire of the public given its value and location.

Albanese has bought a multimillion-dollar waterfront home at a time when Australia is undergoing a nationwide housing crisis.

What’s his new home like?

The top-tier property is a clifftop home worth  4.3 million Australian dollars located in the posh locality of Copacabana.

The home provides an unobstructed view of the ocean and has an open-plan kitchen, living and dining spaces and multiple outdoor entertaining areas.

The prime minister bought the four-bedroom, three-level home with his fiancee Jodie Hayden in September.

Before he purchased the extravagant home, the property was listed as an accommodation on Airbnb. Labelled as “one of the most loved homes on Airbnb" and  “one of the best Airbnb houses on the market," the house was one of the most loved properties in Australia among tourists.

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Why is Albanese facing flak?

Critics argue that the purchase of the clifftop home at Copacabana, north of his hometown of Sydney, made him appear out of touch with many Australians who are struggling to buy or rent a home due to elevated interest rates, rising prices and limited supply.

Opposition lawmaker Sussan Ley described the purchase as evidence that Albanese was “out of touch,” and her colleague Angie Bell described the timing as “questionable.”

“The real issue for Australians is a lot of people want to be able to buy a home, but they’re finding it very, very difficult and the current government is doing a very poor job at getting the policy settings in place to make it easier,” opposition lawmaker Paul Fletcher told Sky News Australia.

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Albanese backs purchase

On the other hand, the prime minister is proud of his recent investment. Speaking to reporters, Albanese said that as the prime minister he “earns a good income” and that he is “much better off now.”

“I understand that I’ve been fortunate. 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," he said.

With inputs from agencies