Brisbane's February $400 accommodation is really not bad at all. It's all about saving where you can and splurging where you need to. Basically, you buy a four-piece bedding set and you're good to go, with plenty of storage space in the room.
Plus, the apartment offers a free gym, 24-hour security, a piano room, a communal kitchen, an outdoor BBQ terrace, a cinema, and on each floor, there are study rooms.
Location-wise: Just a minute's walk downstairs to the bus/train station, with the 66 bus directly to UQ and QUT KG campuses, only two stops to the city. Three minutes' walk to WWS supermarket, Trinity Asian supermarket, 24-hour McDonald's, and plenty of restaurants and bubble tea shops nearby. Five minutes' walk to South Bank Parklands (with city beaches and the Brisbane River for walks), and a ten-minute walk to the cinema.