Id look for a second hand one, I bought a second hand commercial rack for $200. Im also uni student so I know what you mean.
I got mine from a place that buys equipment off closed down gyms and fixes them up, repaints them etc, but I bought mine as is. You could look around for a place like that in NSW.
+1 with what hulk said about the cross beam at the back of the rack for squats, especially bench press. Also dont buy a rack that has those spring loaded pins, where you slide the bar rack up and down, they suck balls.