Best place to live for exchange students in Melbourne

Hi,

Me and my 4 mates from Copenhagen are going to Melbourne on an exchange in the spring semester (Some to Monash and some to Unimelb). We're considering getting a place in or near CBD, to get the most out of the city. Do you have any recommendations for places to find apartments and areas to live in? I've looked at Scape and Iglu, but have read mixed reviews - thoughts? Also looked at Airbnb, but I reckon things are more pricey there.

We're looking for a decent place, close to the city life, and with a bedroom each.

Thanks in advance