Over seventeen million Australians—around 67 per cent of the total population—live in the nation’s capital cities. Melbourne, Sydney and Brisbane (our largest cities) are growing most rapidly, with Melbourne’s population increasing by 2.3% in 2018-19, followed closely by Brisbane (2.1%) and Sydney (1.7%); across all capital cities the population grew by 1.8%.
The sudden hard lockdown of nine Victorian Government-managed public housing towers during the current COVID-19 pandemic in order to prevent the spread of the disease has raised issues about the responsibilities of social landlords in supporting vulnerable tenants.
The COVID-19 pandemic is affecting Australia in many different ways, with the implications for cities and housing markets likely to be significant.
Before the pandemic, immigration fuelled the growth of Australia’s largest cities, with Brisbane, Melbourne and Sydney among the fastest growing urban places in the OECD.
Media reports suggest that, due to the impact of the coronavirus and economic downturn, more than 1.4 million Australian households are now in mortgage stress and almost 100,000 could default on their home loans as a result.
Whether there will be a significant impact on house prices as a result of the economic crisis stemming from COVID-19 is a topic of significant discussion in both Australia and internationa