At time of the purchase,Ms Trad had ministerial responsibility for the Cross River Rail project. She failed to declare the purchase on her register of members'interests within the required time frame.
The house is also within the catchment area of the new school at Dutton Park,which is due to open in 2021.
The LNP and Ms Trad had each referred the issue to the CCC.
In a statement on Friday,the CCC said it found no evidence that supported a reasonable suspicion of corrupt conduct.
"The jurisdiction of the CCC to investigate suspected corrupt conduct by elected officials is limited to circumstances where the alleged conduct would,if proved,amount to a criminal offence,"the statement read.
"The CCC’s assessment did not identify evidence or information suggesting a criminal offence had been committed.