The chances of you having a normal birth are much higher at home, and now Victoria has only three metropolitan birth centres. The Mercy has a 50% transfer rate, the Angliss is the lowest and has independent midwives working there, but when my sister birthed there, the midwife on had never done a waterbirth and had to find someone else! You can only have a waterbirth at the Angliss or Monash. Transfer rates can be a mix of things, hospital policy, woman's request (epi etc), support/education they have etc.

I'd interview some IM's and see how you feel with their philosophies matching with yours, ask their transfer rates etc and if they have done any/many waterbirths. Then you can decide when you know how both work