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We've been thinking about moving back soon - but the salaries are lower (by around 10k per person, which isn't too bad), the tax is slightly higher - maybe 2k each - and the school fees are around the same, plus there's a higher GST and super is pitiful (down $15k each a year). Family decisions...

For Wellington it seems possible to buy a family home for around $600k (A$460k) in a nice suburb a few ks from town and equivalent rent seems to be around $550-570. Compare that to Canberra! And there's no stamp duty. However, bit unsure about capital growth prospects. And there's been some...

But what sort of capital growth could you expect, surely lower than in Australia, and no tax advantage unless you moved there.

Maybe wait until the Budget. A change to capital gains tax would give the property market a shock but tinkering with depreciation probably wouldn't. Probably best to see how the tax changes play out and then wait for the reaction - doubt the market will rise by much before then as the economy is...