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Average salary in oz is around the $55K mark, $100K is therefore a good salary.
South of the Yarra is good, I like SE Melbourne along the bay.
check out realestate.com.au for rental & buying prices.
Most people will probably say on balance that things are more expensive than the UK but it does depend on what you are buying and what exchange rate you use. If you are earning $100K you should have a good lifestyle depending on your personal circumstances.
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