Former opposition leader David Speirs may have been dumped from Vincent Tarzia’s new frontbench line-up but the politician could have the last laugh when it comes to setting himself up for the future.
While South Australians continue to feel the cost-of-living crunch, Mr Speirs – according to Land Services records – has proven himself to be a heavy weight in SA’s property investment scene, amassing an impressive property portfolio, worth close to $6m.
Even Mr Tarzia owns more than one property, which puts him in a fortunate position.
According to Land Services SA, Mr Speirs owns five properties at Kingston Park, as well as three in Christies Beach and one in each of the suburbs of Oaklands Park, Mitcham, Inman Valley, Brighton, Middleton.
Six of his properties are co-owned.
Mr Speirs also declared a share in the Marino Rocks Social Community Cooperative – a cafe and venue on the edge of the Marino Rocks foreshore and a property in Melrose on the latest parliamentary register.
Each year, members of parliament are required to list their “interests in land” on the register, with the last list released in 2023.
Former opposition leader David Speirs has amassed a property investment portfolio worth close to $6m. Picture: Instagram
New Leader of the Liberal Party in South Australia Vincent Tarzia has a property investment portfolio worth just over $2m. Picture Dean Martin
Mr Speirs’s impressive investment portfolio made headlines late last year when it was revealed nearly a quarter of his properties had been listed on short-term rental website Airbnb at up to $500 a night – and achieved a near-perfect host rating.
Records showed three of his 13 properties had been listed on the controversial platform, which allows guests to rent short-term accommodation from homeowners or landlords.
Mr Speirs achieved a 4.81-star rating out of maximum five stars from guests who praised him as an accommodating and responsive host.
The disclosures came amid heated debate over whether short-stay rental accommodation is helping fuel the nation’s acute housing shortage crisis.
A unit owned by David Speirs in Kingston Park. Picture: Airbnb
A property owned by Mr Speirs in Middleton. Picture: Airbnb
A property owned by Mr Speirs in Brighton. Picture: Airbnb
Meanwhile, Mr Tarzia – who was named the new leader of the Liberal Party for South Australia in early August – comes into his new position with a modest investment portfolio, with a capital value of around $2.12m.
According to Land Services SA, he owns one property each in Magill and Campbelltown.
He’s also declared interests in land in Adelaide and Normanville on the parliamentary register, along with the above mentioned properties.
In a statement provided to The Advertiser, Mr Tarzia said he had always considered property ownership a sensible long-term investment.
“Through hard work I was fortunate enough to purchase my first property in my mid-20s,” he said.
“However, I know that for most young people today, entering the property market feels completely out of reach.”
Mr Tarzia, who has officially reached the summit of South Australia’s Liberal Party, has been a member of parliament for the past decade and is the current member for Hartley.
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His rise comes after a parliamentary apprenticeship that included time as speaker and as a Minister for Police, Emergency Services and Correctional Services, a position he was appointed to in 2020.
Since entering politics, he has been the Shadow Parliamentary Secretary for Entrepreneurship, Innovation and Business Start-ups, and Shadow Cabinet Parliamentary Secretary.
In May 2018, Mr Tarzia was elected as the 35th Speaker of the House of Assembly, serving until July 2020. He became the youngest Speaker in South Australia’s history.
Prior to politics, Mr Tarzia worked in the financial, legal and commercial sectors.
He also served as a Councillor for the City of Norwood, Payneham and St Peters in 2010, and has been active in many local community groups and sporting clubs.
Mr Speirs, who is currently in Scotland, declined to comment.
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