SYDNEY - Australians have been heeding advice to work from home during the Covid-19 pandemic, but the move is taking a heavy toll on the downtown property market and on the shops and cafes that gave character to the central business district .
Melbourne's Lord Mayor, Ms Sally Capp, revealed last week that current foot traffic in the CBD was down about 90 per cent compared with the same period last year.Adding to the sudden quiet in Australia's major city centres, curbs on international travel have led to a sharp drop in the number of international students and foreign workers. Many of these temporary visitors tended to stay in and around the CBD.
"Vacancies are still elevated and it's unlikely to fall significantly until the borders are opened," he told The Australian Financial Review. In both Sydney and Melbourne, the drainage of residents and office workers has proven devastating for the cafes, restaurants, clothes stores and other retail outlets that add life and character to the skyscraper-filled downtown districts.
"The office workers aren't coming back and the tourists are gone because of the borders shutting," he told ABC News.The City of Sydney has provided grants to struggling small businesses. Business groups have also called for councils and businesses to find ways to adapt to the current restrictions.