Kevin Rudd and Therese Rein list Yarralumla, Canberra home with no profit hope

The former Prime Minister Kevin Rudd and wife Therese Rein paid $2.175 million for their home in leafy Yarralumla, Canberra in 2010.

It has now been listed for sale at $2.25 million through Shane Killalea of the Peter Blackshaw agency.

Set behind electric gates, with double lock up car accommodation, the house (pictured below) is described as sophisticated and luxurious.

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The difference was virtually eroded by their stamp duty acquistion costs that totalled around $130,000, along with estate agency commission and annual land tax of around $10,800 a year. 

The contemporary Mueller Street house was bought after departing The Lodge so as their son, Marcus, could finish his schooling.

The family home was leased at the end of 2011.

“The current tenants have indicated they would like to purchase another house and therefore it is an appropriate time to put the put the house on the market,” a spokesperson for Kevin Rudd told the Australian Financial Review.

The five-bedroom, four bathroom house is set on 936 square metres with a separate study, in-built sound system and pool.

While Yarralumla’s median house price is up over the past year by 7% to $1.07 million, according to RP Data Canberra’s housing market has slowed due to inpart to uncertainty around public service employment after the September federal election.

There is typically a required 11.7% discount among private treaty listings to secure a sale.