Having spent plenty of time in Oz in recent years, I can tell you that the property prices are indeed ridiculous compared to those not that long back.
The high end of the market is insanely priced! You can buy better in well-known expensive realestate hotspots around the world.
(I wont even discuss Perth, which is off the scale altogther!)
And the lower end of the market is overpriced for what you get.
I'd say the real cost of living (including home, food, entertainment) - at a decent level of lifetstyle - is no better in Oz than elsewhere nowadays. And whilst the banking/accounting style salaries (and the wages for certain trades) are up, the aviation-related salaries & wages continue to decline in comparison, with conditions worsening.
The country's in the midst of a China-induced resource boom, and the economy is being sustained by that boom. However, structurally, the economy is becoming unstable, and personal debt levels are through the roof. In addition, the government has re-written the industrial relations framework such that if and when a "hard landing" of the economy occurs, there will be widespread discontentment if not worse.
If you really feel likely to spend a lot of time on the beach, then Oz might still be a good bet - sacrificing long term wealth for current beach-centric lifestyle. But if you really are going to live more normally, I wouldn't get too exited by the tourism ads!
Not just wrt the campaign that's this thread's topic, but in respect of other aviation-based careers and even unrelated jobs, I'd consider current "enticements" more as a good backup for harder bargaining back at home... a fall-back position if you overdo the negotiations!
Disclaimer: This argument does not apply to those considering leaving certain countries with particularly low life-expectancies, and high drive-by shooting/car-jacking rates!
