You should consult the appropriate shire and check any restrictive covenants for the specific standards required.
As a guide, if the adjoining block is vacant you should be able to erect a fence without the neighbour’s permission, but not demand costs from them until their block has been built on.
You can then claim half the fence cost as estimated at the date of the claim. This should be paid within one month unless mutually agreed otherwise. If you subsequently sell your house this right to claim is lost and can not be passed on to the new owner.
As long as the fence meets regulations the neighbour should be liable to pay half. Any costs above the minimum standard such as building a ‘brick fence’ when a basic fence is required are not liable.
If the adjoining land has been built on you should negotiate and agree costs and style prior to erecting any fence.