Happy to be proven wrong

You are more than 2ms from Chime/iiNet/wholeever, if you were in a datacentre this would be less than 1ms and even if a different building in Perth it'd be 3-4ms max NOT 21-35ms like a metro ADSL connection

19 Gi0-1-17.per-qv1-bras2.chime.net.au (203.59.49.78) 94.211 ms 92.556 ms 94.176 ms
20 gateway-wan.ihosting.net.au (203.59.123.72) 113.696 ms !X * 115.485 ms !X

and:
20 97 ms 100 ms 94 ms Gi0-1-17.per-qv1-bras2.chime.net.au [203.59.49.78]
21 115 ms 115 ms 136 ms gateway-wan.ihosting.net.au [203.59.123.72]
22 117 ms 114 ms 117 ms ns1.ihosting.net.au [203.59.123.82]

Reverse DNS:
203.59.123.72 gateway-wan.ihosting.net.au
203.59.123.73 203-59-123-73.perm.iinet.net.au.
...
203.59.123.80 ns1.ihosting.net.au
203.59.123.81 gateway-lan.ihosting.net.au
203.59.123.82 ns1.ihosting.net.au
...
203.59.123.93 office.ihosting.net.au
...

You've been giving a layer 2 service (aka ADSL), otherwise the hop before you would be on a different subnet

It dosn't look like its an ethernet service but rather an ADSL service.