Palaszczuk scores insane 684 per cent return on Brisbane property

Reza Adib and Annastacia Palaszczuk at the Magic Millions race day. Picture by Luke Marsden.

Former Queensland premier Annastacia Palaszczuk has struck gold with the sale of a property she bought in 2005, seeing its value skyrocket by more than $1.5m.

Ms Palaszczuk who resigned as Queensland premier in December 2023 sold her clifftop Seventeen Mile Rocks home in the future Olympic host city less than a month after it hit the market – securing a 684 per cent hike in value in two decades.

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Her Seventeen Mile Rocks house has sold for $1,780,000.

She had the house built in 2006.

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She’d bought the property for $260,000 in 2005 building a house there in 2006 which has now sold for $1.78m – which was $10,000 above the highest valuation estimate.

Homes there can fetch in the region of $826 to $1100 a week, according to property records.

The median house price of Seventeen Mile Rocks is $1.075m after 69.3 per cent in the past five years alone.

The ex-premier now has one property remaining publicly listed in her name in Queensland, a one-bedroom unit in Main Beach on the Gold Coast bought in June 2019 for $705,000.

Tom Tate and Annastacia Palaszczuk at the Magic Millions race day. Picture by Luke Marsden.

Ms Palaszczuk took over the seat of Inala from her father Henry Palaszczuk after he retired in 2006. He was a minister in Queensland’s Beattie government,

Saeed Moghaddam of Brisbane Real Estate Chapel Hill sold the Seventeen Mile Rocks property as an “insider’s secret”.

“You’ll spot the lorikeets before you hear them, they love the tropical gardens out front,” his listing said. “And if you’re up early enough, you might even catch the mist rising over the ridge as you walk the trail to Riverside Park.”

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