All depends on the job you do really but given a choice I would pick Canberra any day of the week. It isnt the HUGE big city environment but it is bigger than a country town. It is as good a place as any to bring up kids - lots of opportunities and facilities. The climate is pretty good, we have 4 distinct seasons and though it can get chilly in winter, the sun always shines and it isnt miserable. House prices are generally cheaper than the bigger cities but they are getting up there. Unemployment is at an all time low here at the moment which is good. For me it is a nice cross between a big city and a country town - you can see the bush from anywhere in town and there is a lot of open space (which should be green but due to the drought is now a sort of dirty browny greeny colour
) It is a 3 hour drive to Sydney which is definitely do-able for a long day or a more easy weekend, a couple of hours from some very nice beaches and about 7 hours drive or 1 hour flight from Melbourne.
If I didnt need a job and just wanted a self sufficient type lifestyle then I would head off to somwhere like Orbost in the east of Victoria - cheap houses, close to the sea etc but no jobs.