At the south-eastern end of the peninsula is historic New Farm. Brunswick Street is the main street running northwest-southeast up the center of the peninsula. To the south west of Brunswick Street the suburb is characterised by large ornate Queenslander-style houses and the eclectic mix of art deco blocks of flats. Shady streets lined with large trees and tall apartment buildings, predominantly along the river. More modest Queenslander-style houses, historic workers’ cottages and modern contemporary homes and apartments dominate the north east of Brunswick Street.
The former electric tramway power station, located at the eastern corner of New Farm Park, has been converted into a community arts and performance space called ‘The Powerhouse’. New Farm is known as Brisbane’s “Little Italy” as many immigrants from Italian descent first settled in the suburb.
Today, New Farm is one of the most affluent suburbs in Brisbane. In 2004 the median house price was $629,000 in September 2010 it had reached just under $1,000,000. Now we find the median house price has risen to around $1,370,000, which continues to elevate the suburb’s status amongst home buyers.
There is a wide variety of bars, restaurants and cafes, located along Brunswick Street, the James Street precinct and Merthyr Road, giving residents an almost endless array of options.
With strong demand for inner-city living, New Farm is expected to maintain its popularity with buyers and renters looking for proximity to the city and an excellent cafe lifestyle.