"I realise that if i gained my commercial license in Aus/NZ i would have to transfer to the EU equivilant which would be about 100 hours flight time am i correct or have i researched wrong?"
Not quite right. If you hold an Australian CPL and IR (known as CIR = command instrument rating) then you'd have to do the flying to convert that, certainly wouldn't need 100 hours. The exact hours are a mystery to me. I did it another way. You'd also have to do the 14 JAA ATPL exams. If you'd done the Australian ATPL exams then you'd find that experience and knowledge a benefit.
You would be better off using the Australian (or NZ) CPL to get a job flying in the great outback or Africa to build valuable and interesting experience before tackling Europe.
See the world. Enjoy your flying. Then move on up to the jets.
Sure, it isn't the same as going "straight to the RHS of a shiny jet" but you won't regret the experience and fun.