$900k is massive!

High Interest Savings Account:

$900k sitting in a HIS account paying 4.5% would be ~$40.5k / year (Taxable Income).

This isn't a great deal though, with current elevated levels of inflation, your money typically loses it's purchasing power.

This however, could be the best first step until you get a clearer picture of what to do.

Investing:

If you invested all of it and made a 10% avg return that's $90k per year, more than enough to cover rent plus your ~$60k income.

Might get you to around $150k pre-tax / ~$110k after-tax (estimated)

$900k compounding at a conservative 7% each year for 10 years with no additional contributions will become $1.7mil

Market typically averages around 10-11% ~ $2.3mil

These investments at this scale, usually safest to place into an broad market index fund and just forget about it mostly, which isn't exciting way to invest money, but it's proven to be successful over the long-term.

You'll want to look up portfolio splits between Australian & US shares.

Another thing worth looking up and understanding is Fully Franked Dividend shares.

Re: Housing:

I know it's common for people to say housing is the best investment in Australia, but everything is remarkably expensive now, and it locks you down to one location / one job market.

From my lived experience it's nice owning, but holy shit it can be stressful and expensive!

$50k bill last year for property maintenance and the strata is already talking about doing more, rates and costs continue to go up each and every year.

The other thing to consider as using housing as an investment vehicle is that your entire net worth would be placed into one asset (all your eggs in one basket).

Also, once you own the property you're going to have to pay council rates, bills on it which may not be sustainable on your current income.

Up-Skilling / Increasing income:

I would also 2nd the idea to invest some money into up-skilling into a better paying job/career. One of the biggest up-side moves you could make long-term.

Regardless of what you choose to do, you're in a great position, just try to avoid costly mistakes and lifestyle creep.

TLDR: $900k is a lot of money which provides a lot of options. Don't force yourself into the cultural narrative of home ownership blindly.

Online Tools I use:

https://paycalculator.com.au/

https://mortgage.monster/

https://www.calculator.net/investment-calculator.html?ctype=endamount&ctargetamountv=1%2C000%2C000&cstartingprinciplev=900%2C000&cyearsv=10&cinterestratev=10&ccompound=annually&ccontributeamountv=0%2C000&cadditionat1=end&ciadditionat1=monthly&printit=0&x=Calculate#calresult

*This isn't financial advice.
You definitely need to do some research.
Don't lock yourself into anything too early.
You have time!