Ok Don,

I'm back in Dubai and you wanted feedback.

Sydney, we stayed next to Darling Harbour, same place as 3 years back so I have a good reference for the changes in that area.
- Clearly Sydney is booming and I really challenge those who cannot find work and not willing to try anything as I saw lots of signs for people wanted in shops in the city. I have a friend who moved back to NW Sydney from Dubai after 8 years, she is VP HR in Dubai, but after 3-4 mths still unemployed and last job had 50 people applying. But another interview she was told they wanted recent local experience so the people behind the desk are likely the ones who should be unemployed. Her husband had a job on return and struggling to find metal workers for his employer and going OS for asians.

- Construction everywhere and Chatswood has changed alot. Cars everywhere were relatively new.

- All my friends and family talk about house prices and they fear for the next generation and concerns of a major collapse

- Sydney is clearly feeding off govt spending and SME's growth and service sector alot catering for the migration into the city.

- Trains were well used even off -peak and weekends and at night, safe and clean. Wasn't like that under previous govt.

- Sydney International Airport Arrivals is a disgrace, too crammed. Come on BC

Adelaide
- Last and first time I was there was 2000, staying on south terrace. This time at freind who moved from Dubai, Indian Migration. Rented in Bowden got job 3 months before coming that was listed for 9mths, pays 90k, Trainer for company that works with Telstra and looks after NT/SA.
-   Bowden area was really nice, clean, modern but retaining his historical charm.

-  Cars in this area were not cheap, but not Sydney. Overall the cars are clearly older.

- Solar panels on most roofs. Pity this doesn't keep the lights on if the grid fails. Bunnings was well used by well dressed people

-  We caught tram to Glenelg and the beach front area was fairly nice and kids loved the park. The houses along the corridor all seemed well kept

- Bowden area has lots of govt and private sector construction

- The City looked well kept with investment and construction. My usual metric, "high heel count" was fairly strong. (you want to gauge a city or suburb, look at the women, not the men. What they wear reflects the income to the area and high heels is a easy thing to count. Women with money loving wearing expensive shoes, which are 99% high heels. Yes the High Heel count was lower than Dubai, alot lower)

- Overall the city centre doesn't look like there is an employment issue and the city and surrounding locations I went too didn't have closed shops. Hard to find one.

- Airport was nice, clean and well laid out. We flew back to Dubai direct. I did notice Dnata stairs to a Qatar Airways plane, considering the current issues in Gulf, a number of people got a laugh out of that on Facebook.

- My friend (Indian passport holders but barely ever lived there) is renting a modern 3 bed house in Bowden for about $500 a week (I don't know, just guessed from looking at real estate). They didn't want to go to Adelaide and preferred Melbourne because friends are there, but PR was issued by SA govt. However being in a house 3km from city centre for an affordable price and 4mths in SA has changed their minds and they will most likely stay beyond their 2 years requirement. He'd buy a house now but lacks a 20% deposit. they also know quite a few others migrating to Adelaide under SA sponsorship and most are getting jobs ok. Another couple I know of (also Indian decent) got sponsorship by NT govt and moved to Darwin. They dreaded the moved and said they were moving to the east coast as soon as their 2 years is up. They both have nice jobs within 6mths, happy, bought a house and no intention to move on.

Overall, I was looking at ABC monthly report on Real Estate, WA has suffered now a 10% loss off the peak price, so again a loss if you bought at the peak but still within 20% deposit so nothing too dramatic for most unless you were on your limit at time of buying and more so for investors than owners occupiers.

Rental returns, well what return? Less than 4-5% gross for most of the country which means after agents fees, MTCE, rates etc but not including interest is around 1-3% return. Why bother? Unless you know you will get capital growth of plus 10%, may as well go into a Managed Fund. Brisbane remains soft and affordable and while we nearly came home last year but only stopped due to medical issues, looking at prices in the same areas things have not changed a great deal for us. Potentially we may buy next year and rent out for 1-2 years to make use of he tax system to reduce ownership costs.