The Department of Home Affairs has announced a new initiative for an additional Temporary Graduate visa with an extra one or two year of post-study work rights for international students.

CATEGORY 3
International graduates who have studied and lived in Category 3(Regional Centres and Other Regional Areas, including all other locations) will be eligible for an additional 2 years on a second Temporary Graduate visa.

CATEGORY 2
International graduates who have studied and lived in Category 2(Cities and Major Regional Centres, comprising Perth, Adelaide, the Gold Coast, the Sunshine Coast, Newcastle/Lake Macquarie, Wollongong/Illawarra, Canberra, Geelong and Hobart) will be eligible for an additional 1 year on a second Temporary Graduate visa.

CATEGORY 1
However there is no extension for Category 1(Major Cities, comprising Sydney, Melbourne and Brisbane) students.

https://www.legislation.gov.au/Details/F2020L01639/Explanatory%20Statement/Text