Bank of Queensland chief executive officer Stuart Grimshaw says Brisbane homes are overpriced Bank of Queensland CEO Stuart Grimshaw. THE boss of Bank of Queensland, one of the State's biggest lenders, thinks homes in the capital are overpriced. BoQ chief executive officer Stuart Grimshaw, a New Zealand native who previously lived in NSW, started in the job in November 2011 and currently rents a home in inner Brisbane. "Property in Brisbane is a bit expensive," said Mr Grimshaw, who appears in today's edition of BOOM magazine. Where I've looked to buy (here), I just couldn't justify the prices. Mr Grimshaw said he considered property in terms of "absolute value," which included growth prospects, and that meant Sydney or Melbourne were cheaper. Mr Grimshaw has been leading the bank through a tough time, with BoQ posting a loss largely on troubled property loans written under previous management. The CEO also revealed support for converting at least some of Queensland to daylight saving. "When you've got all the major cities synced, it's a lot easier to do business," he said. But Mr Grimshaw acknowledged that options such as splitting Queensland in a north-south daylight-saving divide would be political suicide. "Politically you couldn't do it - but I don't see why you couldn't actually have half the state on (daylight saving), and the other half not," he said. BoQ has 268 branches across the nation, and Mr Grimshaw boards a plane about twice a week. "Living here's been good ... the climate, you can't compete against, apart from January or February," he said. Liam Walsh