^Source: Roy Morgan, UberMedia; percentage compared to January-February data
This level of activity in city centres is a concern for major landlords with retail rent expected to drop 20 per cent and office market rent under pressure until employees return to the workplace.
Roy Morgan chief executive Michele Levine said the analysis shows that a pre-vaccine Covid-normal is very different to conditions seen earlier in the year.
“In cities including Adelaide and Perth there has been little to no local transmission of the virus for months—not since late April for Perth and not since early May for Adelaide—more than five months ago,” Levine said.
“Both have increased slightly since late July but remain well below the levels that hospitality and retail businesses in the city centres are accustomed to.”
Activity in Melbourne is expected to pick up following the end of heavy lockdowns.
“The staged re-opening of retail and hospitality businesses in Melbourne this week is a step in the right direction but city office workers are still being encouraged to work from home for the foreseeable future and mask wearing remains mandatory in the Victorian capital,” Levine said.
“The movement data for the Melbourne CBD is set to increase substantially in the next few weeks and retailers and traders in the city will be closely watching to see how quickly Melbourne can close the gap on interstate counterparts such as Sydney or Brisbane.”
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