based on the drawing, the wall where the bed is. HOWEVER, you mentioned that this drawing is not a true depiction of the furniture you will use and the wallpaper. if that is the case, i think the wall paper can work on either wall, it all depends on how busy this wallpaper is and how "plain" the bed is. if you go with a busy wallpaper behind the bed, you may want to keep your bed and bedding on the minimal side so that there is a good visual balance to the overall composition. if you go with snazzier bedroom furniture, then a busy wallpaper may be a bit much and you may want to put it on the other wall or use a textural option to serve as the bed's background rather then another focal point.

Thank you so much for responding! Where do you think I should put table/lamps? And what color? This is the front space of the couch I was thinking of putting a flatscreen tv on the wall? If I was to paint this room to suit the furnishings what color? Thank you :) also I have mini bookshelves right across the painting I was thinking of putting 2 led sized bean bags there instead?

Thanks for the replies! My wife suggested we talk to a local real estate agent, so i think that is a good idea... just that Im not sure how helpful they are likely to be if we arent selling yet :) As for saving for our dream house, I dont disagree, however if doing this up nicely over the next ~5 years or so while we live here nets us some extra in the eventual sale, then that of course will help us as well. Interesting thing happened today actually. I got a knock on the door and one of the older neighbours asked if he could take some lemons from the tree. I of course said yes. Anyway he was telling me he had lived in the street for 40 years. I asked him if the house had always looked like this, and he said no that ~30 years ago the old old owner did a massive renovation and pulled off the timber and put up the bricks and gutted the inside of the house. Interesting stuff!

If you think hitting the lamps could be an issue, just move them a bit and add some low accessories (opposite sides to pic below). It's better to have a bit larger lamps and with your ceiling height anything shorter would look skimpy and they don't overwhelm the bedside tables once you balance with something above the bed. Just a thought...if you accessorize your bedding with some soft colors, they will also help to compliment the glass and crystal. You could even change the hardware to a silver.