When you first get to Australia you can expect to be staying in temporary location such as a hostel for a couple of nights, unless your university offers temporary housing for international students. During this time you're going to need to look for somewhere more permanent to live. A number of options are available:
Many universities have apartment-style accommodation close by the campus, this is great because it minimises travel and it's really convenient for classes and meeting friends.
Usually this is cheaper than finding somewhere yourself, however it depends on the area you're living in.
Renting with friends
Some students choose to rent a house or flat with friends instead as it gives them a little more independence. Places like this are normally found through an estate agent or privately through replying to an advert or from having a contact passed on.
This can be a bit more expensive than on-campus accommodation and usually requires you to pay a bond or deposit before you sign the contract.
Another option is that you can choose to stay with a local family. This will help you get used to being in a new place and help you adapt to the culture.
Usually you'll pay rent and this will include things like meals and cleaning but you may be expected to help out with things like household chores in return.