I need some suggestions for a new monitor around $200-250aud, i don't really know to much about monitors, but it would be preferred if it could be, IPS, 1080p and <5ms response time and the refresh rate doesn't really matter to much.
As i7Baby said, but to clarify more, if you are into gaming, you look into 144Hz TN panels only.
If you for the 144Hz one, look at LG 25GM77 (best color presets and contrast from all the TN panels).
If you go for IPS, look at HP Envy 23 or Dell S2415H (glossy coating for clearer and more vibrant image).