Vernon Tce, Newstead, QLD 4006

Vernon Terrace runs along the Newstead reach of the Brisbane River. It contains converted wool stores and new apartment buildings, and has a river walk along the water's edge.

Once the site of the Teneriffe Wharves, used for loading Australain wool for export to the world, it is now one of the busiest restaurant precincts in the inner city. Chinese, Italian, tapas, sports bar - it's all here within easy walking distance. Cafes too!

But there is also a gym to work off those extra kilos, as well as a walking/bike track along the river.

The dwellings in Vernon Terrace are apartments, so it is a high-density living area. As you would expect, public transport is great, with several bus routes and a ferry which connects to the CityCat right at the end of the street.

Because of the restaurants and cafes, as well as the high-density population, parking can be an issue in the street itself, but most people are able to find a park within close proximity. The street can be a little noisy in the early evening as people gather in the hospitality venues, but the attractions in the area make it worthwhile.

This location is very close to New Farm Park, a City Council library, the Powerhouse (restaurants, theatre and a fortnightly farmers' market), and a modern shopping centre. A brief bus or ferry trip will get you to the city or the Valley - you could even walk!

Housing prices have risen quickly over the past 5 years, but there is still plenty of demand, so there should still be capital gains ahead. Rental properties are available, but tend to be at the higher end of the market.