2.5 kilometers (1.6 mi) north-east of the CBD, Teneriffe borders Fortitude Valley to the north-west, Newstead to the north and New Farm to the west and south.
Teneriffe has a generally young and high income demographic, and is one Brisbane’s most expensive suburbs with a median house price in 2017 of over A$2 million. Residents have access to a riverside lifestyle, restaurants and extensive amenities.
In July each year, the Teneriffe Festival is held as a bold celebration of the suburb’s community, history and glimpse of its future; In 2017, the Festival attracted 50,000 people who wandered the suburb’s riverside streets and hidden laneways enjoying 25 musical performances and street acts, 40 local restaurants and food vendors, around 60 market stalls and displays, a large dedicated Kids World and dozens of community group stalls.
By the 1880s the area was being settled by Europeans. The area was served by horse drawn trams starting in 1885. In 1890 land near Teneriffe House was subdivided and auctioned. The 30 allotments were sold under the name Teneriffe Estate. From 1897 until December 1962 electric trams ran along Commercial Road. Early photographs of the suburb show trams displaying the destination “Bulimba”, which has given rise to some confusion in later times. Originally the area was considered part of the suburb called Bulimba which then straddled both sides of the Brisbane River. Postal deliveries were often misdirected and as a result the western section of Bulimba, comprising the area now known as Teneriffe, was renamed before World War I. At the 2011 census Teneriffe had a population of 5,335 people.