Agreed - also based in Perth and made the decision in October last year to switch my credit card churning from Qantas to Velocity for this reason. I also have a bunch of Avios left over from my time living in the UK and purchased more during a recent 50% bonus sale. It's not as good a value as the CC route but can still give you a reasonable discount on a seat in J.
Availability on Qatar is... good. I'm not going to say amazing because I cannot get exactly what I want but it's damn close. There are blackout dates around Christmas (I posted a thread on this in the forum) when only flexi awards are available (not worth it IMHO). And while I've managed to book a rewards flight on Avios from Perth to Dublin in the second week of June this year earlier last week I had to plump for F PER-DOH as only flexi J was available. I'll live.
There were very few days in June where there wasn't availability at all!
But good is a hell of a lot better than almost non-existent. Trying to find a Qantas Classic Rewards flight from Perth to Europe in June caused the multi-flight tool to have a seizure at the ridiculousness of my request!
Anytime I've flown back to Europe using Classic Rewards has involved some creative routing, searching over multiple days and usually at least one unsecured connection paid for separately. Not worth the hassle with an alternative available.
BTW there is one other way to get lucky using Qantas Classic Rewards to fly Perth to Europe: if you're willing to leave it to literally a day or two before you want to fly and don't mind coughing up for Emirates hefty carrier charges they usually release last minute empty seats in J or F. High risk for mediocre reward though.