Don't know too much about this phone, but on paper it looks like an awesome budget Android phone. Comes with Lollipop 5.1 out of the box.
Specs
4.5″ FWVGA Display (480 X 854)
1GHz Quad Core Processor
MediaTek MT6735M Chipset
1GB RAM
8GB Memory (with 2.5GB end user memory available), expandable to 32GB via microSD
5MP Rear Camera, VGA Front Facing
Android 5.1 (Lollipop)
Battery: 1780 mAh
WiFi: 802.11 a/b/g/n, Bluetooth: v4.0, GPS
Network Connectivity:
3G: 850/900/1900/2100 MHz
4G: 2100/1800/1900/2600/700 MHz
Dimensions: 132.2 X 65.1 X 9.95 mm @ 146g
Another thing to note this has support for 850/900 3G, so if unlocked will be useful on Telstra.
More phone info here: http://www.gsmarena.com/alcatel_pixi_3_(4_5)-6934.php