Prime Minister Anthony Albanese's decision to purchase a $4.3 million clifftop home on the NSW Central Coast may be the final nail in the coffin for his re-election hopes, as growing criticism mounts over his apparent detachment from the cost-of-living crisis plaguing everyday Australians.

While Albanese defended the purchase, acknowledging he was "fortunate" to earn a good income, many argue that this move exposes how out of touch he has become.

Labor MPs have voiced concern, telling Sky News “Do people think he gets the cost-of-living crisis when he’s buying a holiday house like this?”

The backlash from within Albanese's own ranks have been fierce.

“I can’t think of a greater act of self-sabotage in my life,” said another MP. Some suggested the timing of the purchase — just months before the next election — was a colossal miscalculation.

"This one will cut through," a Labor insider remarked, while former Labor powerbroker Cameron Milner added that the decision reflected "total incompetence or sublime arrogance."

Even as Albanese stressed his fiancée's connection to the Central Coast and reiterated his commitment to housing for all Australians, critics argue that the Prime Minister’s multi-million-dollar acquisition could be seen as tone-deaf amid rising interest rates and rent hikes.

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