I had a great stay in Steve's apartment, which is very well located between the CBD and the oceanshore in a nice residential area of West Geelong which gives you an idea of the Australian lifestyle outside of the big cities.
Steve's folks were extremely friendly and welcoming and helped me with everything. The apartment itself is great, everything you need, lots of light and space, very clean. The pictures on airbnb really don't do it justice. If you are looking for a good starting point for exploring the region, including the Great Ocean Road, this is the place to go to.
Highly recommended!