I personally think the cladding would look nice and be the easiest to maintain. We also live on the Gold Coast and have a brick house that has been rendered (not by us) and, to be honest, it is not particularly low maintenance (if you want it to stay looking good that is). It is prone to leaching which leaves ugly stains so regularly needs retouching with the paintbrush. It can also develop small cracks in the render due to temperature change and movement. However, the most worrying thing for us is with regards to termites. If you render over your brick on the lower half of your house, it is highly unlikely you will see the telltale "mud" they leave that indicates they are trying to gain access into your house (they climb up in between the render and the brickwork). I would be trying to keep the exposed bricks in preference to rendering over them, particularly if you have a garden bed up against the house anywhere.

I believe changes should enhance beauty, but try to maintain historical integrity. if a building is at risk of being torn down and changes can be made to save it, then do it. if appearances can be altered by landscaping then that's the best. if changes are to preserve go for it. just my feelings on it.

Is the pic of the house attached to this discussion exterior rendered in Taubmans pebble bay?

Looks like a half day's work to me, so a few hundred dollars including materials. Where are you located?