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Welcome to the jungle, Lewis!
Renting? What size family? I can't speak much for houses (as rentals) but for units, assuming you're happy with one as short term accommodation (and no backyard/balcony astronomy until you buy a house), most of the action is in Kingston, Narrabundah or Griffith (inner south). I'd stay out of other 'popular' areas like Braddon as their services and the local environment are still a bit lacking IMHO.
I accumulated about 9 years renting in Kingston before buying a place and was always happy there. If you need advice on particular developments, I know quite a few of them intimately.
For houses to buy, the mid-north seems to be booming around Gunghalin - Nicholls, Crace, Forde, Harrison, etc. Over towards Belconnen (or beyond) is certainly cheaper but not quite as well served (or as nice an area IMHO). If money's no problem, try the inner north/south - Yarralumla, Forrest, Red Hill, Ainslie, Campbell, etc. I don't especially like Woden Valley, but O'Malley is allegedly quite nice.
Despite Canberra being a small place, because everyone tries to go to/from work at the same time, we do actually have traffic congestion, so check the traffic routes before you choose a place.
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