The former home of Prime Minister Tony Abbott and his wife Margie has hit the market, revealing a dramatic rise in the couple's real estate fortunes over the past two decades.
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Located on Sydney's upper north shore, the four-bedroom house is considered an entry-level offering to Wahroonga's housing market, much as it was when the Abbotts bought it in 1993 for $237,000.
More than 20 years later it goes to auction on April 16 for more than $900,000.
Agent David Walker, of Ray White Turramurra, was spruiking the former owner in the home's marketing when it went live on Friday. "It's not quite Kirribilli House, but with a coat of white paint you could make it a white house."
When the younger couple bought their humble home on Fox Valley Road Mr Abbott was press secretary to Liberal leader John Hewson, helping to write the then controversial Fightback economic policy, and making a name for himself as executive director of Australians for Constitutional Monarchy.
Having impressed fellow monarchist, former prime minister John Howard, Mr Abbott was encouraged to seek preselection in the Warringah byelection, which he won in March 1994.
Four months later he sold his recently purchased Wahroonga home to buy a four-bedroom house in his electorate in Forestville for $351,000.
Sydney house prices rose 10 per cent in that 12 month period to a median house price of $216,029.
In Wahroonga, where the median house price was $365,000 when the Abbotts sold, values had risen 6.4 per cent that year. When the Abbotts sold they made a neat capital gain of $13,000.
