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Is Kevin insider trading Canberra real estate?

By johnboy - 17 July 2013 1

Bloomberg have a story on Kevin Rudd taking his Yarralumla mansion back of the market.

Australian Prime Minister Kevin Rudd has abandoned plans to sell his five-bedroom house in Canberra for A$2.25 million ($2.08 million) following seven weeks on the market.

The house in the suburb of Yarralumla, a five-minute drive from Australia’s Parliament House, was leased to tenants this week, said Shane Killalea, an agent at broker Peter Blackshaw Canberra, who marketed the property. The 465-square-meter (5,005-square-foot) home was first listed for sale on May 29.

“It’s been taken off the market,” Killalea said. “The tenants offered good rent,” he said, declining to give details of the rental rate.

Rudd, 55, and his wife, Therese Rein, bought the property, which includes a swimming pool, outdoor entertainment area and four bathrooms, for A$2.175 million in September 2010, according to allhomes.com.au, a real estate website. They moved out at the end of 2011 after their son Marcus completed his schooling in Canberra, Rudd’s office said in an e-mailed statement on May 31.

With Kevin being the rainmaker in Canberra real estate at the moment it seems a bit unfair he’s got a multi-million dollar position in the market as well.

What’s Your opinion?


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One Response to
Is Kevin insider trading Canberra real estate?
HiddenDragon 11:49 pm 17 Jul 13

Yes, amidst all the thrills and spill(s) of the last few weeks, there is the thought that some of the people who have exited the Canberra property market ahead of an anticipated apocalypse may have cause to regret their decision – or not…….

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