I’m personally using this technique when I’m looking a place in Sydney. But again, people might use different techniques depending on their circumstances and situation.

When I look for accommodation in Sydney, I’m always using Train Map or Network Map as the bible. I’d like to suggest you to do the same thing. The reason behind that just because as lots of people using and depending on public transportation, it would much better for you to live as close as possible from public transportation access, particularly train station. I’d prefer to use train more as they’re more reliable with the timetable rather than buses.

As per said, try to live around 5-15 minutes walking distance from the train station. Further than that isn’t recommended. The 2nd reason to use Train/Network map as a guidance is to get you an idea of how small/big the development around that area. For example, if the train station on that area is big enough to consist for more than 2 platforms, then it will show you how develop the area is. Plus you’ll get more frequent train coming in for bigger one.

Of course, the smaller the train station, you can get cheaper price compares with other big ones. But again, it will also depend of which part of Sydney you wanna live. Once more, North area would be more expensive to live compare with South and so on. But at least you can get an idea of how big the development on that area based on the Train/Network map of the train.

Here is the link of the train station map on below.

Link: http://www.cityrail.info/stations/network_map

Good luck.