Treasurer Joe Hockey is selling his farm in far north Queensland and with an asking price of $1.55 million that’s more than double what he bought it for just five years ago.
Located seven kilometres outside of Malanda, south of Cairns, the 90 hectare property has been on the market since mid-April.
The house on the land is a quaint three bedroom, one bathroom Queenslander-style cottage. Other features of the property include a large shed, 16 hectares of set irrigation and licence, several dams, undercover cattle yards and 14 paddocks for pasture.
According to Domain, the property’s title documents show the Malanda farm is jointly owned by the couple and was bought for a total of $625,000 in 2003.
This isn’t the first property Hockey has sold off in the area. Last year the treasurer sold a separate 41-hectare farm in Malanda for $600,000, which he bought for $520,000 in 2010.
Following his comments about Sydney’s property market this week, in which he said first home buyers need to get a good job that pays good money in order to own a home, Hockey was also asked about the sale of his Malanda farm. A spokesperson for the treasurer said it was a personal matter for him and his family.
Here’s a look at the farm for sale, courtesy of Domain.
The asking price of $1,550,000 is far more than the $625,000 purchase price of the property in 2010.
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