Victoria's political elite are among the nation's most enthusiastic real estate investors, but fall short when compared with their federal counterparts.

The state's 128 MPs own, on average, 1.8 properties each, with a combined value of about $146.5 million.

By contrast, their federal colleagues, on average, own 2.5 properties each, or an estimated $300 million worth of land holdings, analysis shows.

Property heavyweights in Canberra include National MP Barry O'Sullivan who owns a 50-strong investment portfolio and billionaire Clive Palmer with 12 titles.

While Victorian MPs can't match the sheer size of their federal colleagues' property interests, they make up for it with exotic holdings, the state register of members' interests shows.

Clem Newton-Brown, the nature-loving Liberal member for inner-city Prahran, has as taste for remote locations.

He owns the prettily-named Picnic Island in picturesque Coles Bay next to the world-renowned Freycinet National Park in Tasmania.

The island's rugged sandstone rocks boast a large colony of little penguins and nesting ground for short-tailed shearwaters.

It was listed for sale in 2010 with expectations between $500,000 and $1 million and came with permits for a 10-person eco-lodge, but failed to sell.

Mr Newton–Brown also lists two other unspoilt getaways - land on Flinders Island in Bass Strait and a rural plot in Carlsruhe near the Macedon Ranges.

Ted Ballieu, the former premier and outgoing member for the prized seat of Hawthorn, has a more practical property bent.

Among other dwellings, he has an interest in a block of flats in Richmond.

Premier Denis Napthine lists ownership of just two dwellings. His political nemesis, Opposition Leader Daniel Andrews, has only one.

Geoff Shaw, the independent Frankston MP causing both leaders headaches, has none.

Another prominent Liberal, Richard Dalla-Riva, is the Parliament's rental kingpin and property doyen.

As well as the family home, Mr Dalla-Riva lists ownership of six other Melbourne properties from Rye to Wyndam Vale for which he declares rental income.

Ports Minister and member for Kilsyth David Hodgett is also an keen investor with two properties in his electorate, another in bayside Dromana, and two more in Queensland.

Not to be outdone, Labor Party spokesman on Asian affairs Hong Lim also has sizeable land holdings. He has interests in three apartments and two other dwellings.

Tax Office statistics show nearly one in every seven Australian taxpayers owns investment property and one in every 10 is negatively geared.

About 5.7 million Australian households own their home, the most recent census shows.

The Liberal Party's 52 MPs own much of the real estate on the register - 137 properties.

Labor's 59 members own a total of 104 properties, while 13 National MPs hold 27 and the three Green MPs have six, analysis shows.

Some of the properties are jointly held with spouses.