I'm from Perth, Western Australia.
During summer we do get some nasty (often suspicious) bushfires, and overall the cost of living is quite high, but average salary is good if you can achieve it. If you love clear weather, beaches and an outdoor lifestyle then I'd highly recommend it. Be prepared for really hot Summer days though, 35-40°C days are common.
Watch out for the koala dropbears
Because of our smaller market and distance, entertainment items are generally more expensive. On the bright side, online shopping helps bypass this - as long as you don't spend more than $1,000 AUD in one transaction you won't get charged tax or duty when it arrives (except if you try to import alcohol or cigarettes of course). As a result it can be cheaper to buy from an American or UK retailer and turn out cheaper even with express shipping included.
One negative is if you like to go on holidays to Europe from Australia you are easily looking at 18+ hour flight times one-way.