Brighter And some

PM to step down the property ladder?

by Karleen Jentz, Copywriter 17 September 2015

If you blinked and missed it this week, Australia has a new Prime Minister with Malcolm Turnbull defeating Tony Abbott in a sudden leadership spill.

Turnbull now faces a dilemma few Prime Ministers have had to face before him: should he downgrade to Kirribilli House or The Lodge?

These historic prime ministerial residences would represent a step up in the world for national leaders of more modest means. But Turnbull’s successful business career before politics has afforded him a luxurious lifestyle up until now.

Turnbull’s own home is a beachfront mansion in the exclusive Sydney suburb of Point Piper. According to it comes complete with private waterfront access and its own jetty.

The Lodge in the Canberra suburb of Deakin is a heritage-listed home which has just undergone $8.8 million in renovations, reports While Kirribilli House – where former PMs Tony Abbott and John Howard lived – might match Turnbull’s Point Piper views, this suburb does come with a lower median house price.

Let’s hope Turnbull doesn’t spend too much time and energy making a decision now he has a country to run.

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The Lodge

The Lodge – the PM’s official residence in Canberra. Picture: Wikipedia

Kirribilli House

Kirribilli House in Sydney. Picture: Wikipedia

The Turnbull's Point Piper home

The Turnbulls’ waterfront neighbour Altona, recently sold for $52 million.

The Turnbull's Point Piper home

The Turnbulls sold the neighbouring house, pictured left, for $13.5 million, in 2011.

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