Queensland Deputy Premier Jackie Trad has apologised over allegations of corrupt conduct, hours after the state Crime and Corruption Commission confirmed it will not be formally investigating her.

Ms Trad, Queensland's second most senior woman in political office, has for weeks been engulfed by an integrity crisis over a Woolloongabba "fixer-upper" investment home she claims her husband bought using a trust she also benefits from.

The CCC has been assessing the purchase of the unremarkable property along the route of the state government's Cross River Rail project Ms Trad was overseeing.

Queensland Deputy Premier Jackie Trad will not be formally investigated by the state's Crime and Corruption Commission over failing to declare an investment property on time. (AAP)

Despite that assessment, the CCC today said it will not formally investigate her over the matter, but has also called for improvements to Cabinet processes.

"The CCC received an initial complaint on 18 July 2019 containing allegations the Deputy Premier engaged in corrupt conduct in relation to decisions about Cross River Rail and, to a lesser extent, decisions about the ICSSSC," the anti-corruption body said in a statement.

"A subsequent complaint specifically containing allegations the Deputy Premier engaged in corrupt conduct in relation to decisions about the ICSSSC was received by the CCC on 2 August 2019.

"Based on the information obtained and assessed by the CCC, no evidence or information was identified that supported a reasonable suspicion of corrupt conduct as defined in section 15 of the Crime and Corruption Act 2001."

The decision will mean Ms Trad will keep her position as Deputy Premier, however the CCC has recommended the government take action to limit potential corruption risks in the future. (AAP)

In an address to reporters this afternoon, Ms Trad said she is "deeply disappointed" in herself for the mistake that she made and offered an apology to "the people of Queensland".

"I'm very sorry about that. As I said, this was not intentional, it was not deliberate, it was a mistake," she aid.

"I think the Premier (Annastacia Palaszczuk) is right to ensure there is a reasonable response to that mistake."

The CCC assessment was initially sparked after Ms Trad did not declare the property on time, and previously said she has done nothing wrong.

"It has attracted a lot of public commentary... and I think it's only important, and particularly for the sake of my family, that I have an opportunity to tell my side of the story," Ms Trad declared this week.

As part of the decision today, the CCC made five recommendations to the state government for it to improve "decision-making processes and areas for legislative reform to reduce corruption risks".

Those recommendations included measures to identify and manage potential conflict of interests and for criminal offences to be created to deal with MPs who do not declare those conflicts.

The issue has caused considerable political pain for the state government, with the Liberal National Party relentless in its pressure over the saga and calls for Ms Trad to resign or be sacked.

She is due to step in as acting premier when Annastacia Palaszczuk travels to Europe for official business tomorrow, although the premier may choose someone else depending on the CCC outcome.