When I was in Oz (Sydney, Brisbane, Cairn) on a round the world trip, me and my friend always rented 2-bedroom apartments. In Cairns it was just 50m from the beach.

An apartment or villa will give you much more value for money. Large balcony, fridge to stock goodies (beer). Kitchen to make your own breakfast to be enjoyed on the balcony.

I think we paid around £150/night.