Qld politics: MPs’ investment properties revealed on register

Many Queensland MPs are also property investors, picking up rent on top of their parliamentary income. SEE THE LIST

Multiple MPs own investment properties in Brisbane’s inner suburbs.

Queensland’s state politicians are sitting on a goldmine of million-dollar property investments, with more than 25 MPs claiming rental income on top of their parliamentary salaries.

Premier Annastacia Palaszczuk owns two investment properties in the Noosa region, along with her primary 1000sq m home in Brisbane’s Seventeen Mile Rocks.

Records show the Premier purchased a two-bedroom townhouse in ritzy Sunrise Beach in 2012 for just $370,000 – a suburb where the median unit price has now rocketed to about $1m, and rent sits about $625 per week.

Ms Palaszczuk also added a Main Beach investment property to her portfolio in 2019 for $705,000 – where the median sale price has climbed to more than $1.1m, and rents have jumped 16 per cent in a year to about $700 per week.

According to the Queensland register of members’ interests, the Premier receives rental income, but is not required to disclose how much additional cash she earns on top of her $427,000 wage.

The Premier’s office did not answer questions on whether Ms Palaszczuk had increased the rent on her investment properties in the past 12 months, but did say “the Premier complies with the requirements to declare interests on the register”.

Deputy Premier Steven Miles and wife Kim own a swag of inner Brisbane investment homes, including a three-bedroom West End unit, a 700sq m Alderley house, and a two-bedroom unit in Yeronga.

While the original purchase price of the properties totals about $1.17m, collectively the three could be now worth at least double that, while Mr Miles also owns his main home at Mango Hill north of Brisbane.

He too declined to say whether he had increased the rent on his investment properties.

Education Minister Grace Grace owns four properties, and is sitting on huge plots in the desirable suburb of New Farm. According to property records, among her investments is a 581sq m home, which was purchased for just $15,000 in 1985, and another 407sq m home purchased for just $40,000 in 1987.

New Farm’s median house price is now $2.9m – up more than 30 per cent in the past 12 months.

Ms Grace also owns a 653sq m home in Fortitude Valley, and an investment unit in Brunswick West in Victoria.

Opposition Leader David Crisafulli also appears to be a keen property investor, with three properties owned by his family trust.

Other property investors in the parliament include Housing Minister Leeanne Enoch, former LNP leader Deb Frecklington and former speaker Fiona Simpson.

MPs Corrine McMillan (Mansfield), James Martin (Stretton) and Jim McDonald (Lockyer) each have four properties listed on the register, while Tony Perrett (Gympie) has six in his local region.

Transport Minister Mark Bailey owns one property, but does claim rental income on his register of interests.