Labor MP nabs $2million Parramatta sub-penthouse amidst Australia’s housing crisis

A Labor MP has managed to snatch up a luxury sub-penthouse as Australians struggle with cost-of-living rises and a housing crisis.

Dr Andrew Charlton and his barrister wife, Phoebe Arcus, purchased a sub-penthouse at The Lennox tower in the heart of Parramatta, in Sydney’s west, for $1.93million.

It’s the couples ‘second home’ in Parramatta after they bought a house in the city’s north for $1.95million last year.

Labor MP Dr Andrew Charlton and his barrister wife, Phoebe Arcus, purchased a sub-penthouse at The Lennox tower(pictured) in the heart of Parramatta for $1.93million

Dr Charlton is understood to have bought the sub-penthouse as the renovation plans for the North Parramatta property were taking too long, Sydney Morning Herald reported.

Their new home is a five-bedroom property situated on level 46 of The Lennox Tower, which sits by the banks of the Parramatta River.

It was completed 18 months ago by property developer Novm, which was previously a subsidiary of China Aoyuan Group.

The Lennox Tower includes a communal swimming pool, gymnasium, BBQ area, function room and 24-hour security.

Dr Charlton won the seat of Parramatta for Labor in last year’s federal election.

There was controversy over the Labor MP being ‘parachuted’ into the seat despite living in a $16million Bellevue home, known as Fintry, in Sydney’s eastern suburbs.

He purchased property in North Parramatta in a bid to connect with his electors.

It comes as Australia’s housing crisis continues to worsen, with rents spiking across the country due to low housing supply and flow-on effects from 12 consecutive interest rate rises.

Between March 2022 and March 2023, the median unit rent jumped 24 per cent in Sydney, equivalent to an extra $120-a-week, according to the Domain Rent Report.

The Albanese government have attempted to pass through the Housing Australia Future Fund, which will build 30,000 new social and affordable homes over the next five years.

But the $10billion package has been has been blocked by the Greens and the Coalition.

The minor party originally made demands to increase the funding to $5billion per year to address the housing shortfall and to implement a rent freeze. 

Greens housing spokesperson Max Chandler-Mather said the government was not budging at all even after his party revised that offer. 

Greens MP Max Chandler-Mather (pictured) said the Albanese government was not budging at all even after his party revised their initial offer

His party currently wants $2.5 billion for public and affordable housing from this year, down from the $5 billion requested earlier – 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, at the moment, is after we halve our offer, the Labor Party still haven’t come to the table on agreeing more funding for public and affordable housing or doing anything for renters.’

Housing Minister Julie Collins told Sky News the government was still ‘happy to have discussions right across the parliament’ on the issue.

She stressed the housing fund was not the government’s only measure to address affordability challenges.