Mystery as Dan Andrews makes major real estate move

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Dan Andrews has made his second major real estate move since 2018 by refinancing his mortgage yet again, with his home now worth around $1million.

The Victorian Premier spent 111 days between March and June this year recovering at his Mulgrave home after he fell on stairs getting out of the shower at a Mornington Peninsula holiday house. 

While his deputy James Merlino stood in for him publicly, his recovery from a broken vertebrae and ribs and the state’s response to the Covid crises were apparently not the only things on his mind. 

The Andrews bought their Mulgrave property for $251,000 in 2002 and have completed two major construction projects. 

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Mr Andrews, 49, and his wife Catherine used the opportunity of some time off to shop around and switch over the mortgage on their $1million plus home to ANZ, reports The Australian

The refinancing was the second in the space of a few years – with the previous 2018 deal struck when the Reserve Bank cash rate was at a record low 1.5 percent. 

His 2021 refinancing was done when the cash rate was lowered even further to an unprecedented 1 per cent.  

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One in 2016 saw the existing property on the site bulldozed and a new house built. 

Another in 2017 added a second story to the home. 

The premier is facing a state election in Victoria next year, and is also set to be called to appear at two Independent Broad-based Anti-corruption Commission public hearings. 

The anti-corruption watchdog is investigating claims of corrupt conduct including branch stacking by Victorian public officials.  

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