Age is an issue. It's certainly not impossible to gain a job and there is plenty of evidence to show that. However, it's a damn site harder and in the UK there are many airlines that won't consider older wannabes, though of course with the ageism law passed in the UK a year ago they wouldn't admit to such practices.
In theory I should stick out from the average wannabe. Actively paradropping; +600 hrs; first time passes; etc etc. But not a sniff. Then again I limited my search to those I have felt are worth applying to
1. Airline pays for TR (or pays you back the costs)
2. Airline with a base a sensible distance from family home
Which is the other issue with age. Quite often linked to being married with kids, mortgages etc etc. Not so easy to just up sticks and swan off at the drop of a hat.
So.......if you can afford the risk (I could - so no regrets), adn you have no wife, kids etc to think about then go for it if it's really what you want to do. I can't comment on the industry in Australia (however, be weary about 'pilot shortages'. Yes, I have heard this rumour about Oz, but what they often really mean is, pilots with plenty of experience ready to move over to the LHS. So don't believe it at face value).
Ohh and a couple of other things
1. Bruce Dickinson is a multi millionaire (hell - in the early 80's I even helped him achieve such riches !!). Might be wrong, but he started off with Astreus, which if I am not mistaken was a SSTR, i.e. you pay for you 737 TR. Drop in the ocean for him. I'm sure he is a very competent and professional pilot, but really, he must view this as a hobby to some extent. He certainly doesn't need the money.
2.
A friend of mine got a job with EasyJet just over 2 years ago and he was 38 then and also low houred.
. It has been my understanding that Easy only take experienced crew on, apart from through the CTC scheme. I thought 38 was too old for CTC !! (See AGE IS AN ISSUE !). Unless by low hours is defined in Oz as below 2000 hrs ?
Good luck in your choice anyway - just don't rush in !!
CG.