the two big children's hospitals in brisbane are at Herston(royal brisbane) or at sth brisbane (Mater kids). there are several good neighbourhoods to live in sround both hospitals.
royal childrens is a 10 min walk to the valley, or a quick 5 min bus to the city. the suburbs around there are kelvin grove, fortitude valley, wilston, red hill, paddington, newmarket. all these are quite nice areas.
the mater childrens is close to southbank, west end, highgate hill, kangaroo point. again, all good areas to live in.
guess it depends on how much you want to spend on rent and how far you want to be from work. there's good public transport to both hospitals. an idea is to go to www.realestate.com.au
and search the above surburbs for an idea on price fpr location and will give you a map.
also... unlike sydney... the sea around brisbane isn't that flash. it's not nice beaches like you may imagine. sure... there's surburbs by the sea, but it's on a bay and not too nice to swim in. the nearest surf beaches are about a 45min-1hr drive from brisbane. hope this helps