I live in Singapore (im not Asian), but Canberra is my hometown and im moving back there in a month (ANU). Dont listen to people who say "Canberra's boring" (i've had to stick up for my little town for two years whilst living overseas) - anywhere is shit if you dont know what to do/ dont know people to hang out and go out with.
Although of course its not as big as Sydney or Melbourne (or Singapore), but dont discount what it has to offer - strong indie/dance music communites, halfway between the snow (winter) and the beach (summer). The roads are the best in Aus if you like driving. Public transport is weak though (just a bus system). But since everyone has a house, house parties and a strength and its not a hassle to get your hands and buds and whatnot if your into that.
Besides, its IN BETWEEN Melbourne and Sydney (if you like road tripping).
Lots of open space, lots to offer if you keep your eyes peeled. Once you settle in its a great city, and its not as small as you think.