Awesome you are looking to build a custom PC. I have never read or heard about a person who regrets doing so. Remember patience and planning
First off though, what is it you want to do with your build in terms of computer usage? And in terms of gaming, I see you indicated a 24-inch panel at 1920 x 1080 resolution, but what games and at what settings will you play? And most importantly, what is your budget? These questions will be relevant in order to suggest appropriate parts for your build.
Off hand, today's ideal gaming set up might look something like:
- Intel Core i5-3570K CPU
- 1155 socket, Z77 chipset motherboard with necessary connections/ports
- Best GPU you can afford
- SSD for OS and select programs
- Appropriate capacity PSU based on parts above
Your i5-3470 CPU is an i5, but I can't find any compelling reason to get that over a 3570K. Iirc, the 3470 is a less efficient and non-overclockable version of the 3570K. Now if the price difference was significant, I can see why the 3470 might make sense. But it's not. Get a 3570K.
Your mobo chipset is Z75, which is imho not worth getting over a Z77 mobo. The lack of features and not much of a savings I can't justify. For example, your Z75 mobo has only one 6 GB SATA connection but it's only maybe $20 less than a more feature-rich Z77 mobo. Mobos are parts that are not easily or cheaply replaced, so get what you need and want.
The rest of your selected parts are debatable in a positive or negative way, but I will give you a typical gaming build and you can ask any relevant questions later:http://pcpartpicker.com/p/jNAH
One big problem is that I'm giving you parts for the U.S. that you may not have access to in Australia. But we can figure that out, as the parts I suggest are not necessarily the only parts to get. They are indicative of the type of part I suggest. I think that's somewhat intelligible.