The Melbourne Institute (operated by the University of Melbourne) has recently produced 2007 Australian Universities ranking.

This table shows the standardised rankings from the quantitative survey conducted by the Melbourne Institute into the international standing of Australian universities. The Institute examined a number of variables to determine this standardised ranking, including the international standing of staff, graduate programs, undergrad intake, undergrad programs, resources, and the views of Deans and CEOs.

University Index
Australian National University 100
University of Melbourne 95
University of Sydney 93
University of Queensland 84
University of New South Wales 81
Monash University 75
University of Western Australia 68
University of Adelaide 63
Macquarie University 56
Queensland University of Technology 53
University of Wollongong 52
La Trobe University 52
University of Newcastle 51
University of Tasmania 50
Griffith University 50
University of Technology,Sydney 49
Curtin University of Technology 48
Flinders University 48
Murdoch University 47
RMIT University 46
University of South Australia 46
Deakin University 45
University of New England 45
University of Western Sydney 44
James Cook University 44
Swinburne University of Technology 43
Southern Cross University 41
University of Canberra 41
Victoria University 41
Australian Catholic University 40
Charles Sturt University 40
University of Southern Queensland 38
University of Ballarat 38
University of the Sunshine Coast 38
Edith Cowan University 37
Charles Darwin University 30
Central Queensland University 30

As very much expected, Australian National University headed the list followed by University of Melbourne.

Source 

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