Hi,
I commute to OZ from a HKG base as an FO on the -400.
SO's can do it - they have reasonably good rosters. But these don't last as you'll be upgraded to a regional aircraft with really busy rosters and NO chance of commuting until you get onto ULH routes.
Getting seats is harder all the time as load factors are going up on all the airlines to all destinations.
An SO housing allowance is really only good for sharing a place for the first few years I think, then it gets better.
I have a crash pad in HKG - small apartment, but it's comfortable and close to work (Tung Chung).
Don't count on getting rooms at the Headland hotel - they're maxed out with based crew and some long term residents; and getting worse all the time as the bases and crew numbers grow.
The post from sisyphos is exactly right.
Finally - heed all the opinions from the Fragrant Harbour forum. Think very long and hard about coming here. The vocal minority on there are actually very close to the mark - this is not a pleasant place for a career pilot. if I had to choose now I wouldn't come to CX. There are better options, but I'm now bound by some significant financial handcuffs - not just of CX's making. I am really looking forward to finishing my time here and I will not leave with any regret.