Newstead, Teneriffe and New Farm sit side by side along the Brisbane River, a few minutes from the CBD. All three are walkable, close to great food and coffee, and consistently popular with buyers and renters. Yet they feel quite different to live in, and the property in each suburb suits different people.
We have been based in Newstead since 2005 and work across all three suburbs every week. Here is how they compare.
At a glance
| Newstead | Teneriffe | New Farm | |
|---|---|---|---|
| Main property type | Modern mid and high-rise apartments | Converted wool stores, apartments and character homes | Character houses, older units and riverfront apartments |
| Feel | Modern, busy, dining and riverwalk | Heritage industrial, boutique and leafy | Established village, parks and river |
| Key landmarks | Gasworks, Newstead Park, Breakfast Creek | Wool stores, Vernon Terrace, riverwalk | New Farm Park, Powerhouse, Merthyr Village, Brunswick Street |
| Often suits | Professionals, investors, first buyers | Professionals, downsizers, design lovers | Families, downsizers, long term owners |
Newstead
Newstead has changed more than any other inner Brisbane suburb over the past two decades. Former gasworks and industrial sites are now residential towers, the Gasworks Plaza precinct and some of Brisbane’s best restaurants.
Property. Mostly modern apartments in mid and high-rise buildings, with some townhouses and a few older houses on the fringes. Buyers compare buildings as much as apartments, so body corporate health, layout, outlook and parking drive value.
Lifestyle. Walk to Gasworks, James Street and the riverwalk. Newstead Park and Breakfast Creek are close by, and the CBD is a short trip away.
Who it suits. Professionals who want a modern, low maintenance home, investors attracted by strong rental demand, and first home buyers looking at one and two bedroom apartments.
Things to check. Building quality and the sinking fund, new supply nearby, noise near the main roads, and flood mapping in low lying pockets. Our guide to buying an apartment in Newstead covers the checks in detail.
Teneriffe
Teneriffe sits between Newstead and New Farm, and is best known for its heritage wool stores, many of which have been converted into loft style apartments. Tree lined streets, the riverwalk and boutique cafes give it a calmer feel than Newstead.
Property. Warehouse conversions with high ceilings and exposed timber, newer apartment buildings along the river, and a smaller number of character homes on quieter streets. Unique properties are common, which makes accurate pricing harder and local knowledge more valuable.
Lifestyle. Riverside walking and cycling paths, Vernon Terrace cafes and restaurants, and an easy walk to both Gasworks and New Farm. CityCat access along the river makes commuting simple.
Who it suits. Professionals and downsizers who want character and space without maintaining a house, and buyers who value heritage design.
Things to check. Heritage controls on conversions, the condition and body corporate of older buildings, parking arrangements, and flood mapping for riverside streets.
New Farm
New Farm is the most established of the three. Wrapped in a bend of the river, it combines New Farm Park, the Brisbane Powerhouse, Merthyr Village and the Brunswick Street dining strip with quiet residential streets.
Property. The widest mix of the three: Queenslanders and character houses, brick walk-up units from the 1960s to the 1980s, and prestige apartments on the river. Houses are tightly held and rarely come up for sale.
Lifestyle. Village feel, large parks, river access on three sides and a strong community. New Farm State School is a drawcard for families.
Who it suits. Families who want a house close to the city, downsizers looking for a prestige apartment, and long term owners who value land in an established suburb. Older units also give first home buyers an entry point.
Things to check. Character overlays that limit changes to older homes, building and pest condition, parking, and flood mapping. Our New Farm real estate market guide goes into more detail.
Which suburb suits you?
First home buyers. Newstead apartments and New Farm walk-up units both offer an entry point. Newstead gives you newer buildings and facilities, New Farm gives you an established suburb and often more space for the money in older buildings.
Downsizers. Teneriffe and New Farm stand out for larger apartments with character or river views. Newstead suits downsizers who want a modern building with lifts and facilities.
Families. New Farm is the strongest choice, thanks to its houses, parks and school. Teneriffe has some character homes but fewer of them.
Investors. All three have strong rental demand. Newstead’s modern apartments are popular with professional tenants. New Farm and Teneriffe offer more variety, including character properties with long term land value. Whatever you buy, look at the net return after body corporate, rates, insurance and management costs, not just the advertised rent.
Prices change, so check current data
Prices in all three suburbs vary widely by property type, building and street, and medians move over time. Before you set a budget, look at recent sales for the specific type of property you want, ideally within the same building or street. A local agent can give you a current picture in a few minutes.
How Grow Property can help
Grow Property has been selling, leasing and managing property across Newstead, Teneriffe and New Farm since 2005. If you are deciding between the three, we are happy to talk through your shortlist, your budget and what is coming up for sale.
Talk to a local agent about your shortlist or browse properties for sale. For more detail, read our Newstead real estate guide.
Related reading: Property Management in New Farm | How to Choose a Real Estate Agent in New Farm
Frequently asked questions
Is Newstead or New Farm better to live in?
It depends on what you want. Newstead suits people who prefer modern apartments, dining and a busy riverside precinct. New Farm suits people who want an established village feel, parks and a wider choice of houses and units.
What is Teneriffe known for?
Teneriffe is known for its heritage wool stores converted into loft apartments, tree lined streets, the riverwalk and the cafes and restaurants on Vernon Terrace.
Which inner north suburb is best for investors?
All three have strong rental demand. Newstead suits investors who want a modern apartment with professional tenants. New Farm and Teneriffe offer more variety and character. Compare net returns after all costs before you buy.
Are Newstead, Teneriffe and New Farm flood prone?
Some low lying and riverside streets in each suburb have flood or overland flow risk. Check the specific address on the Brisbane City Council flood awareness map and ask about the building’s history.