The highest suburb is Teneriffe which was the first suburb to surpass the $2 million median market and now has a median house price of $2.2 million.

It is followed by the very appealing neighbouring suburb of New Farm which has a median house price of $1.725 million.

So why Teneriffe and New Farm? These suburbs ooze an outdoor and stylish lifestyle with tree-lined streets and unique spaces such as Brisbane Powerhouse and the heart of the area, New Farm Park which sits alongside the Brisbane River. The park attracts visitors from Greater Brisbane, interstate and overseas with its perfect riverside picnic spots, cycling loops and tree house-style adventure playground. Teneriffe, once a farming area and industrial and commercial hub, has undergone an urban revival. Old wool sheds have been converted to stunning waterfront apartments and trendy restaurants, cafes and boutiques have followed in recent years.

In Teneriffe, $1.785 million will buy you a restored, three-bedroom, former worker’s cottage at 300 Kent Street. Matt Lancashire of Ray White New Farm is a leading agent in the area, having sold millions of dollars of real estate in Teneriffe and has listed the home, which features VJ walls and the original hoop pine floorboards. New Guinea Rosewood, custom built-in joinery has been used throughout the home, and a two-tiered entertainment deck with built-in concrete seating compliments outdoor living.