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The properties of our politicians

by Marquette Turner

in Money & Business, News & Views, Real Estate Radar

As well as his residential home, former Coalition Foreign Affairs Minister Alexander Downer and his wife own a vineyard.

Former employment and workplace relations minister Joe Hockey, and his wife Melissa Babbage, live in their home in Hunters Hill, but together also own a Canberra property in the exclusive suburb of Forrest, as well as investment properties in Sydney and Queensland.

Mr Hockey is not the only MP with an impressive real estate portfolio – Opposition frontbencher Bronwyn Bishop lives in Newport most of the time, except during parliamentary sitting weeks when she resides at her Canberra home in the upmarket suburb of Barton.

Ms Bishop also owns investment properties in Lyons, also in the ACT, and in the fashionable inner Sydney suburb of Potts Point.

Opposition treasury spokesman Malcolm Turnbull, who is worth about $125 million, holds shares in a raft of companies, as well as real estate in Point Piper, Rose Bay and Canberra.

In the pecuniary interests tabled last week, Mr Turnbull revealed he owns a number of assets worth more than $7500, including “boats, artwork, books, furniture, life insurance policies”.

His wife Lucy Turnbull also owns an investment property in Paddington.

Opposition Leader Brendan Nelson owns just one property – his home in St Ives – but his deputy Julie Bishop is a real estate mogul by comparison.

Like Dr Nelson, Ms Bishop is another Coalition frontbencher who has taken a massive pay cut.

But it’s tempered by the fact she owns antiques, shares in Telstra and properties in Western Australia, South Australia and the ACT.

West Australian MP Michael Keenan – a frontbencher for the first time in the Coalition – holds an enormous portfolio of shares, plus his home in Scarborough, WA, two investment properties in Canberra and a parcel of land, also an investment.

Leader of the National Party Warren Truss also owns two residences, one in his home state of Queensland and the other in Canberra, as well as farm land.

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