Kevin Rudd zips out of parliament, leaves housing legacy

Last night, Kevin Rudd retired from politics after serving as Prime Minister from 2007 to 2010, and in June to September of 2013.

"Madam Speaker, there comes a time in our lives as parliamentarians when our families finally say enough is enough," he opened his farewell address to parliament yesterday.

Over the years, he's had his exciting housing stories, a significant portfolio, as well as a certain influence on property in the country.

Rudd, and wife Therese Rein's, $2.175 million Yarralumla, Canberra home purchase in 2010 (pictured below) and subsequent sale last month had Property Observer readers interested, particularly after it was listed in May and then taken off of the market in July.

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With electric gates and double lock up car accommodation, it sold for a reported $2 million.

In 2011 we also saw the couple buy a Brisbane block near the river, in his electorate at the time with plans to build a modern Queenslander style home, just a short walk from their Norman Park residence, which cost them $384,000 in 1994.

"We want somewhere our adult children can come home to because Brisbane is our home," Rein told the Courier Mail at the time.

They had also spent $3.1 million in late 2010 on a Sunshine Coast retreat through Zinc Property Noosa.

Housing has, for a long time, been a topic asked of, and brought up by, Rudd. We saw him bring in the First Home Save Account inititiative and we saw him launch the NRAS scheme in 2008 with aims to expand in 2015.

Property quotes from Kevin Rudd

"It shows that middle and low-income households are experiencing considerable housing stress, and the problem is growing over time" - Kevin Rudd discussing NATSEM results (March 2008).

"The construction sector and private dwellings investment are important generators of economic activity" - Kevin Rudd discussing bringing in increased cash grants for first home buyers (October 2008, Address to Parliament).

“We want to make sure that foreign speculators are not going to force up prices for Australians seeking to buy their own home, buy their first home and we think this is the right course of action" - Kevin Rudd discussing foreign property investment (April 2010, Announcement of new rules).

"Number two - there will be a ban on property developers as candidates; instructing the NSW branch to impose a ban on property developers from standing as Labor Party candidates in the future." - Kevin Rudd discussing potential Labor Part reform (July 2013, Press Conference).

"We need to take a more cautious approach to this in future, without throwing the baby out with the bath water" - Kevin Rudd on foreign investment in buying land (August 2013, people's forum Rooty Hill RSL Club).

"I remember coming into government and asking the question: Where is the housing portfolio, the homelessness portfolio. And there wasn’t one. That’s why we did, we created one," - Kevin Rudd’s Pre-Election Address To The National Press Club (September 2013).

"We’ve implemented the National Rental Affordability scheme so that folks who are finding it difficult to have a home of any description can have one effectively at a subsidised rate and that is, has a target of 50,000 units of affordable accommodation" - Kevin Rudd’s Pre-Election Address To The National Press Club (September 2013).

"And so, having said all that, on this final occasion in the parliament, and as is now officially recorded in the classics for occasions such as this, it really is time for me to zip" - Kevin Rudd's farewell address (November 2013).

jduke@propertyobserver.com.au

Jennifer Duke

Jennifer Duke

Jennifer Duke was a property writer at Property Observer

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