Money wise - a bit expensive. However, you're doing what you want to do in the end so it doesn't matter.
I'm a student there now, and honestly it's not that bad. The lecturers/tutors there really help you when you need it.
Say hypothetically the cut off for Architecture is 94, and you get a an 85 (with the bonus point scheme), then you enrol in the accelerated diploma course which is basically first year uni but fast tracked. You start in July, do all the relevant course content, and the semester ends in march where you have roughly a 3 week break until you start semester 2 at UTS
So you don't really miss out on much.
There's no competitive entry as well. You basically have a guaranteed spot at UTS, and you only need to pass all the subjects in Insearch.
Also, it's not TAFE at UTS. Even if you get a diploma at tafe, that takes roughly a year to acquire, and I've spoken to people at insearch who already have their diploma, but were not allowed into the degree due to the credit points and all that stuff.