Victorian politics: The MPs with the largest property portfolios - The Age

Victorian state politicians collectively own 260 properties, including homes, farms, retail spaces and vacant blocks, with two owning more than 15 each.

An analysis of hundreds of pages of disclosures reveals the MPs with the largest property portfolios were senior Liberal shadow energy minister David Hodgett with 18 and deputy Liberal leader David Southwick with 17. However, 11 of Hodgett’s and 13 of Southwick’s were held by family trusts and were not individually owned by the MPs.

Family trusts could be shared among cousins or siblings, for example, meaning the MPs would not receive the same benefit from them as an individually owned property.

Assistant Treasurer Danny Pearson and Tourism Minister Steve Dimopoulos owned six properties each, including investment properties rented out.

However, MPs are not required to declare properties owned by their partner.

The analysis relied on information provided in the disclosures. The Age also allowed updates and clarifications on the personal situations of politicians after contacting dozens of MPs.

Melbourne house prices slipped to a median of $1.03 million in the year to December, according to the Domain House Price Report. In regional Victoria the median price of a home lifted to $585,000.

However, many of the properties declared by the MPs were vacant blocks of land or small retail shops that may be valued much less.

Several MPs rented the home they live in but had other investment properties. Others owned a second property in the city, particularly those from the regions.

National MP Danny O’Brien, for example, owns his home in his Gippsland South electorate and a second property in Melbourne, as well as a rental in NSW.

Deputy Premier Jacinta Allan owned a primary residence in her Bendigo electorate and a second in the city.

Thirteen MPs – most of whom were newly elected – did not declare ownership of any properties.

Renters with no portfolio included Martha Haylett of Labor, Martin Cameron of the Nationals, Aiv Puglielli of the Greens, David Limbrick of the Liberal Democrats, and Rachel Payne from Legalise Cannabis.

The Age counted Shaun Leane as owning no properties, but he was waiting for a block of land to settle which he declared on his register anyway.

Wayne Farnham, the member for Narracan, was not included in the analysis because he was sworn in this month after a delayed election and his interests were yet to be published.

The starting salary for an MP in Victoria is $192,115, with extra pay for additional responsibilities such as a position in cabinet.

Premier Daniel Andrews earns $464,918 a year, including $58,435 in expenses and allowances, and declared ownership of one property, in his electorate of Mulgrave.

Opposition Leader John Pesutto also owned just one property.

To assist first home buyers into the market, Victoria has introduced a means-tested shared equity scheme. First home buyers can contribute a deposit of just 5 per cent for a home valued up to $950,000 in Melbourne or $600,000 in the regions, with the remainder covered by the state.

The Andrews government has also embarked on the record $5.3 billion big housing build to add 12,000 social and affordable homes, which still falls short of providing a place to live for the 55,000 households on waiting lists.

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