As a new graduate, while you might be able to secure a work/holiday pass, you might be hard pressed securing permanent employment at the moment with the election around the corner and the tightened criteria regarding the hiring of foreigners in lieu of hiring locals with the same or better experience. As a new graduate, I'm not sure what you could bring to the table that any local graduate with the same degree couldn't bring.
But, the Work/holiday programme is the best way to find out.
Nothing ventured, nothing gained. But if it doesn't pan out, you can always look at it as an adventure.