Kelbo,
We currently rent in Hampton which is around 20 - 30 mins drive from the CBD. I would suggest looking around the south eastern suburbs, it's near the beach, good schools etc. The train lines also run along the bay, so I would look at the connex train map and as a guide for you, Hampton takes around 30 mins... Geelong is a long drive and it's over the Westgate bridge and is a pain during rush hour, although Williamstown is nice but it has no beaches..... (more rocks than sand).
Have a look at these suburbs on realestate.com.au at rentals
Gardenvale
Hampton
Brighton
Mordialic
Cheltenham
Highett
Richmond (not so near to the beach)
Rentals are generally not furnished but certain agents do deal with furnished places, so it's work looking at realestate.com.au to check. Most do reply to emails and they are better than the UK (in my view)
Hope this helps....
Dan
