The Labor Party shadow treasurer Jim Chalmers and wife Laura are upgrading Brisbane homes.
They've stayed in his electorate of Rankin, just moving one suburb over from Daisy Hill to Springwood, the suburb where he spent his childhood.
Their former home now seeks offers over $699,000 after it failed in recent marketing attempts to secure over $750,000.
As Chalmers paid $670,000 for the four bedroom Queenslander in 2010, he likely won't see much profit after costs including the $24,000 stamp duty.
Chalmers, who retains a Forrest, ACT apartment, was appointed shadow treasurer after the May Federal election.
The couple have spent $1.02 million on a mid 1990s built, four bedroom home with a home office.
There's also a rumpus room with a built-in timber bar.
The 1,700 square metre grounds feature a salt water pool and spa.
His assistant shadow treasurer Stephen Jones has recently spent $690,000 in his electorate of Whitlam, near Wollongong south of Sydney.
This article first appeared in The Weekend Australian.