Labor MP secures $2m Parramatta sub-penthouse amid Australia’s housing crisis
Labor MP adds $2m penthouse to growing real estate portfolio – as housing crisis cripples voters
- Labor MP buys $2 million penthouse in Parramatta
- Dr. Andrew Charlton won the seat in the election
- He bought the second house to connect with voters
A Labor MP has managed to secure a luxury annexe as Australians grapple with a rising cost of living and a housing crisis.
Dr. Andrew Charlton and his lawyer wife, Phoebe Arcus, bought a sub-penthouse in the Lennox Tower in the heart of Parramatta, western Sydney, for $1.93 million.
It is the couple’s “second home” in Parramatta after buying a house in the north of the city for $1.95 million last year.
Dr. Charlton (pictured) won the Parramatta for Labor seat in last year’s federal election. There was controversy over the Labor MP being ‘parachuted’ into the seat despite living in a $16 million Bellevue house in Sydney’s eastern suburbs
Labor MP Dr Andrew Charlton and his lawyer wife, Phoebe Arcus, bought a sub-penthouse in the Lennox Tower (pictured) in the heart of Parramatta for $1.93 million
Dr. Charlton is said to have bought the annex because renovation plans for the property in North Parramatta were delayed. The Sydney Morning Herald reported.
Their new home is a five-bedroom residence on the 46th floor of The Lennox Tower, on the banks of the Parramatta River.
It was completed 18 months ago by project developer Novm, that was formerly a subsidiary of China Aoyuan Group.
The Lennox Tower features a communal swimming pool, gym, BBQ area, function room and 24 hour security.
Dr. Charlton won the Parramatta for Labor seat in the federal election last year.
There was controversy over the Labor MP being ‘parachuted’ into the seat despite living in a $16 million Bellevue house known as Fintry in Sydney’s eastern suburbs.
He bought property in North Parramatta in an effort to connect with his constituents.
It comes as Australia’s housing crisis continues to worsen, with rents spiraling across the country on the back of low housing supply and spillover effects from 12 consecutive rate hikes.
Between March 2022 and March 2023, average unit rent in Sydney increased by 24 percent, equivalent to an additional $120 per week, according to the Domain Rent Report.
The Albanian government has been trying to push through the Housing Australia Future Fund, which will build 30,000 new social and affordable homes over the next five years.
But the $10 billion package has been blocked by the Greens and the Coalition.
The small party originally demanded to increase funding to $5 billion a year to address the housing shortage and implement a rent freeze.
Greens housing spokesman Max Chandler-Mather said the government is not budging at all, even after his party reviewed that offer.
Greens MP Max Chandler-Mather (pictured) said the Albanian government is not budging at all, even after his party revised their original bid
His party wants $2.5 billion for public and affordable housing starting this year, less than the $5 billion previously requested — and $1 billion to help coordinate a national freeze on rent increases.
“The Greens are willing to negotiate,” he said.
“But our frustration with the Labor Party is at this point, having cut our bid in half, the Labor Party still hasn’t come to the table to agree on more funding for public and affordable housing or anything to do for tenants .’
Housing Minister Julie Collins told Sky News the government is still “glad there are discussions all over parliament” on the issue.
She emphasized that the housing fund was not the only government measure to address affordability problems.