Where at all possible, I would be looking for second hand. New enlargers sill range into the many $1000's, where's a second hand one can range from $0 (if you are lucky) to a couple of $100's
First things first, I would put a wanted ad in here - you never know your luck! While the majority of APUG members are from Melbourne, there are a few from Sydney. I know that there was a NSW member trying to get rid of one not too long ago, but it was a pretty big enlarger.
While Ebay isn't what it used to be, there is still equipment that comes up on occassions at a semi reasonble price. Also keep an eye on gumtree and If you really want to spend a couple of hours every month, you can attempt to read through the tiny ad's in the photo trader magazine .
As for what to look for, that is very subjective. Me, personally, I looked for anything that had was 6x6 or larger (I would suggest going 6x7 at a minimum) that had a colour head. A good all rounder is the LPL 6600 series (Those the other side of the pacific call them Omega's for some strange reason ), especially if it has a colour head. Despite the name, they will do 6x7. These were pretty standard issue, so there are a lot of them around, with a lot of bits and pieces still in existance - I.E., Vanbar still stocked things like AN Glass not that long ago.
Also, as Tom said above, don't discount the lens. Basically, buy the best lens you possibly can and don't be afraid to buy from other states or international.