Yes it is possible to drive in Australia using a drivers license, from the UK for a period of up to three months starting from the day you arrive in Australia. However it is important that you have your license with you while driving and it should either be in English or accompanied by an translation.
If your stay in Australia exceeds three months or if you become a resident you will need to obtain a drivers license. The process of obtaining a drivers license may vary depending on the state or territory where you reside. Generally involves passing a written test, a practical driving test and a vision test.
It is also worth noting that driving in Australia follows the left hand side of the road so if you are accustomed, to driving on the right hand side it may take some time to adjust.