© Provided by Daily Mail MailOnline logo
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.
© Provided by Daily Mail ( © Provided by Daily Mail (
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.
© Provided by Daily Mail
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.