About the racism, all I'll say is that I was born and raised in Australia to Chinese parents and I've lived in Scotland (6 years), England (2 years) and Australia (29 years). I've copped a heap of racism in all 3 countries. From my perspective it's about the same. It's probably a little bit different in each of those 3 places. I won't comment in public any further but if it's important to you and you want to chat then please pm me.
My wife (who is English) and I lived in Scotland for 6 years and we moved to Sydney in Feb this year with our 4 month old daughter. We thought long and hard about it. I've met a lot of Aussies in the UK that can't get used to life in the UK and vice versa. It's people that miss the little things that seem to struggle. I don't really care that I can't get Tim Tams at Tescos and my wife doesn't give a toss that she can't get good pork pies in Oz ...with beer, well I don't mind your warm mouthwash and she seems to like our frozen cat's piss so all's good there. We've been together for 9 years and have lived in both Oz and the UK in that time and what we do miss is family. I don't think that will ever change. My wife has found Oz very friendly, has made friends quickly and loves how interested and welcoming the neighbours and locals are. I never felt welcome in Aberdeen although London with its mix of everybody and everything was brilliant.
With regards to costs, to give you some idea we rent a 3 bedroom bungalow in an ok suburb(I'd guess below median price - nowhere near the city or the harbour) in Sydney for $430 a week (or about £1200pcm). I bought a top spec 2004 Mazda 6 for $15,000 or about £10,000. You can get them for about £3000 in the UK!!!!!! New price isn't all that different. Cost of living in Sydney is a lot higher than the UK (Aberdeen, Birmingham or London) but nothing like 3x as much. I earn £20,000 more in Oz than in the Uk and that about covers it for a family of 3.
Biking - Scotland is immense! England 2nd, Sydney 3rd. There just isn't anywhere that you can ride and walkers seem to think bikers
have horns and will kill you if you don't stare at them with disdain for riding on their trails. There aren't that many people that ride and bike stuff costs more.
We both prefer the lifestyle in Sydney and most importantly for us we feel that bringing our daughter up in Oz is the best thing. Lifestyle, friendliness, education and healthcare being the biggest factors.... but yes cost of living is a bitch!
Good luck whatever you do adn get in touch if you do come to oz.