Melbourne’s CBD is a ghost town

Friday 27 November 2020

Data from the City of Melbourne shows that 28% of businesses in the CBD are vacant or remain closed, despite the fact that COVID-19 restrictions have been eased.

An average of 911,000 people travelled into the CBD on every work day prior to the pandemic. Weekday pedestrian numbers have returned to about 50% of pre-coronavirus levels, although foot traffic on weekends is still only about 30%.

Meanwhile, Melbourne City Council is getting desperate, voting to offer free parking to visitors in order to encourage people to return to the CBD:

The alarming figures were revealed at a Melbourne City Council meeting on Tuesday night, where councillors resolved to offer free parking to visitors in an “extraordinary” attempt to lure people back to the CBD.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.