Queensland Politicians Impressive Property Portofolio

This is GOLD!

I found this data on the website http://www.macrobusiness.com.au/ and could not resist sharing it with you!

Queensland parliamentarians are heavily invested in the property game. The 89 members of Australia’s only unicameral legislative assembly have stake in a total of 195 properties – an average of 2.2 properties per member, conservatively valued at around $91 million, calculated by multiplying the Brisbane median residential dwelling price of $466,500 (as at December 2014) by 195 properties.

politics and real estate

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The actual value is probably significantly higher, for the Queensland register allows for fine-grained analysis of the total lot size (m2) for each politician, separated into the categories of residential, investment, and farm/commercial/vacant/other properties (see Appendix B). As hypothesised in previous reports, politicians:

  • Generally have a principal place of residence on a large lot relative to the public average (often exceeding 1,000m2 in size) – nine Queensland parliamentarians live on a property exceeding 10,000m2;
  • Have substantial commercial, retail and industrial property interests;
  • Purchase a greater number of properties in prestige or premium locations, such as desirable inner-city and coastal areas;
  • Have significant interests in vacant land (some already approved for large sub-divisions) and large grazing and cane farms – some individual farm holdings exceed 10,000 hectares (ha) in size (100,000,000m2);
  • Regularly embed property assets in family and business trusts, and less often, private superannuation funds; and
  • Possess a number of surplus and holiday homes, some in desirable international locations e.g. Thailand.

Property investment has again proven to be popular right across the political spectrum.

politics and real estate

Queensland’s political class possess a substantial property portfolio, with only 2 of the 89 members (2 per cent) not owning any real estate. Only a minority of holdings appear incomplete or mistakenly undeclared in some register entries, usually for the lot size of investment properties.

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