Politics · Australia · 1 hr ago
Real estate expert criticises Albanese and Chalmers over economic management
Real estate expert and auctioneer Tom Panos has criticised Australian Prime Minister Anthony Albanese and Treasurer Jim Chalmers over their handling of the economy.
He compared Australia to a $3 trillion company and said its leaders should have more commercial experience.
Panos said neither man had built a career running a business.
He also blamed government decisions on spending, tax, regulation and productivity for contributing to the economic environment.
His comments come amid a cost-of-living crisis, and he said there had been four interest rate rises this year, with rates at 4.6 per cent.
He also pointed to falling property prices, weaker buyer interest and pressure on people with mortgages.
Panos has previously warned that housing conditions could worsen, after no buyers registered at six of his auctions on one day.
Real estate expert Tom Panos criticised Australian Prime Minister Anthony Albanese and Treasurer Jim Chalmers over their economic management.
Panos compared Australia to a $3 trillion company and argued its leaders lack commercial experience.
He said Australians were paying for what he called bad management amid higher interest rates and a cost-of-living crisis.
Panos cited four rate rises, inflation, falling property prices and weaker buyer confidence.
He argued government decisions on spending, tax, regulation and productivity affect the economic conditions faced by the Reserve Bank.
- Who
- Real estate expert Tom Panos criticised Prime Minister Anthony Albanese and Treasurer Jim Chalmers.
- What
- Panos accused them of poor economic management and questioned their commercial experience.
- When
- The article was published on 12 October 2026.
- Where
- Australia.
- Why
- Panos said government decisions were contributing to economic pressures, including higher rates and cost-of-living difficulties.
This story does not have two clearly opposing sides.
Australia was being run 'like nobody gives a stuff about the numbers'
Australians are shareholders and you know what? We're all paying for bad management.
We've had four rate rises this year... rates are now at 4.6 per cent (back to what they were 15 years ago), inflation remains elevated, property prices are falling, buyers have pulled back, sellers are nervous, young people are leaving the country and setting up businesses overseas and people with mortgages are being smashed.
I'm not saying you need to be a billionaire to lead Australia, but there should be a higher bar
Panos said he had his worst day in 30 years as an auctioneer, with no buyers registering to bid at six auctions.
The Daily Mail published Panos's criticism of Albanese and Chalmers over economic management.
- Tom Panos
- Real estate expert and auctioneer
- Albanese
- Prime Minister of Australia
- Chalmers
- Treasurer of Australia
- Australia's value, in Panos's comparison
- $3 trillion
- Interest rate rises cited
- Four
- Rate cited by Panos
- 4.6 per cent
Sources
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