No too late.
You'd probably too late for a QANTAS cadetship. Most 27 year olds who get into QANTAS, VIRG, Jestar have pretty siginficant experience like regional airline flying, airforce, turbine. The same goes for Cathay.
The best bet for an airline job would be to leave OZ after obtaining a CPL/IR and going overseas, like Africa, PNG and building experience. If you persevere and finance your living for about six months without an income in these places, you could gain some serious experience quickly......thats if you survive. Even then, its gonna be difficult getting into an airline in OZ.
If you prepared to move overseas for long time you could probably end up working in the Middle east or SE Asia with a major airline.
Its a big world out there.