In my opinion, I think it's a great uni. They have an awesome media department and I've talked to a few people doing Sports Media who are really enjoying it. I've been at the uni for 2 years now and I wouldn't choose to be anywhere else, even if Canberra is 6 hours away from my family.
I recommend everyone spends at least a semester or two living on campus, you may realise it's not for you (as I did) but it's still a great experience of Uni life and you can make some of your best friends through ressies; and Canberra has a decent real estate market where you can easily find off-campus accommodation if you decide you don't like ressies.
So overall, I'd definitely recommend UC, even if it is from a bias perspective; and if your only concern is that it's far away, I'd say give it a shot, if you get home sick the worst you can try and do is transfer to a uni back home, but once you get here I doubt you'd want to leave in a hurry.