For the sake of Wally et al, of course a turn back should not be attempted at those kind of altitudes and 500ft was thrown in as a light-hearted comment.
That being said to Wally's point about not wanting to fly singles and for that matter out of Essendon, that is a fair and valid call. When the noise stops in a single at Essendon at 500ft at the end of the runway I'm guessing the majority of pilots will try a turn back or similar life ending maneuver because unfortunately there are very few options available I'm afraid. It's been a couple of years since I've been in there however with all of these Essendon Fields type developments there isn't many fields left to turn back to.
Good point XT as technically Jacks is "Aussie built" of built-by-an-Aussie means that.