Melbourne, Adelaide, and Perth are all in the top 10 cities to live in the world.
Taking Adelaide for example (1.2 million people), we can live within 10-15 minutes of the CBD in a roomy townhouse for highly-affordable rent, get paid pretty well, be 20 minutes from the beach, 20-60 minutes from four different world-class wine regions, have a great festival culture, delicious local food and wine, and a highly safe and welcoming culture.
If you want a larger city you have Melbourne (3.9 million) with a fantastic bar and food culture and endless high-paying work.
As a company, and this is somewhat anecdotal, you have high availability of highly-educated workers who are used to working collaboratively and doing whatever's needed to get things done to cover the work of N other people (low population after all).