Actually, Australia had a capable shipbuilding industry as well as electronics, computing, guided weapons and even drone technology in the 50s and 60s. What Australia lacks (and continues to lack) is quality leadership, both political and industrial. In an act of stupidity, it was decided that it was inappropriate for Australia to be a leader in electronics and computing, and that we should remain a primarily agricultural country. Sort of like when we decided to kill much of our manufacturing in favour of mining in the 2010s
Australian yards built Tribal Class destroyers, River and Bay Class frigates during the war, followed by Battles and Daring, as well as Type 12 frigates, as well as upgrades for the earlier rivers, Bays and Tribals, plus the Type 15 conversions for the Q Class. Originally, there were to have been four Darings and twelve Type 12s, this was cut back significantly to three Darings and two batches of two Type 12s.
The program was well within Australia's means, but defence was a low priority until it wasn't, then panic stations in response to Indonesia's assertiveness, backed by a new Soviet arsenal, saw the reintroduction of conscription and the modernisation of the services. This is when plans to get rid of the Fleet Air Arm were reversed, the DDG program was kicked off and there was even consideration to buying surplus USN WWII built destroyers to increase numbers. Again, pretty much like we are seeing again now.
Lack of leadership and the low priority given to defence saw Australia's services and defence industries go through boom and bust cycles that likely cost much more than just developing a reasonable plan and sticking to it. Every time our shipyards get up to speed they get about a decade, plus or minus a couple of years work, then nothing.