Dan Andrews makes his second major real estate move in three years on his Melbourne home – which is now worth FOUR TIMES what he paid for it
- Dan Andrews and wife Catherine refinanced their mortgage earlier this year
- The couple used Mr Andrews time recovering from back injury to shop around
- Their Mulgrave house was bought in 2002 and has had two renovations
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.
Dan Andrews and his wife Catherine (pictured) refinanced the mortgage on their Mulgrave house
The property (pictured) has undergone two renovations – one in 2016 and another in 2017
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.
Mr Andrews broke a vertebrae and multiple ribs when he fell down stairs while walking out of the shower (pictured in hospital)
Mr Andrews posted a picture to Instagram recovering at home with his daughter earlier this year (pictured)
Catherine Andrews posted a pictured praising her husband as a work-from-home colleague (pictured)
The house has had two construction projects, one in 2016 in which 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.