The Melbourne suburbs copping worst economic fallout from coronavirus

The double whammy of working in vulnerable industries and being susceptible to mortgage and rent stress means some Melbourne residents will be harder hit economically in the wake of the coronavirus pandemic. See which suburbs are most affected.

Inner-city suburbs have been city the hardest. Picture: AFP

People living in inner-city Melbourne have been identified as being most vulnerable to the economic fallout from coronavirus.

The double whammy of working in vulnerable industries, as well as being susceptible to mortgage and rent stress, means residents of Carlton and the CBD are most at risk.

A report by data analytics company Seer Data found Clayton was next in line, then North Melbourne and Parkville, reflecting those suburbs’ high student populations and that many of their residents were employed in the hard-hit sectors of hospitality, retail and accommodation.

As much as 55 per cent of people in Carlton were identified as being susceptible to mortgage and rent stress.

Melbourne’s inner-city suburbs have been city the hardest. Picture: David Caird

Central Melbourne and Dandenong had the highest number — about 45 per cent — of persons employed in vulnerable industries or occupations. But the outer suburban growth areas of Wollert, Craigieburn, Roxburgh Park and Cranbourne were also pinpointed as risk areas because of their mortgage commitments.

At the other end of the scale, small rural communities such as Nhill, and the shires of Buloke and Yarriambiack were deemed least at risk.

Seer Data chief Kristi Mansfield said the information was open to all and would assist governments and agencies in locating areas of economic concern.

“Vulnerable inner-city communities tend to have high rates of rental stress, high proportions of people employed in the hospitality and food services industries, and high proportions of people employed as community and personal service workers,” Ms Mansfield said.

“And suburbs like Southbank, which you would not normally recognise as a high-needs area, are coming across as being in need.”

Inner-city communities have high rates of rental stress with high proportions of people employed in hospitality and food services industries.

Vulnerable regional areas had high rates of mortgage and rental stress, as well as a mixture of vulnerable industries and occupations, she said.

Nationally, the data identified communities not previously regarded as vulnerable, including Pyrmont and Haymarket in Sydney, and Surfers Paradise and Cairns in Queensland.

The data explored zones which possessed a high risk of mortgage and rent stress, along with workers in industries such as hospitality, retail, arts and accommodation who could be stood down or laid off.

Australian Bureau of Statistics showed as many as 800,000 Australians lost their jobs in the two months since the coronavirus struck the economy.

The Seer Data analysis was extracted from ABS information and other publicly available data.

CLICK HERE FOR A MAP OF SUBURBS WITH HOUSEHOLD STRESS

(Best viewed on a desktop computer)

VICTORIA’S MOST VULNERABLE SUBURBS/TOWNS

Carlton

Melbourne

Clayton

North Melbourne

Parkville

Wollert

Footscray

Dandenong

Roxburgh Park – Somerton

Cranbourne West

Southbank

Craigieburn – West

Flemington

Broadmeadows

Epping – West

Craigieburn – North

Burnside Heights

Mickleham – Yuroke

Lynbrook – Lyndhurst

Collingwood

READ MORE

AUSTRALIA POISED TO EASE RESTRICTIONS

HEALTH OFFICER SPARKS OUTRAGE WITH TWEET

HOW MELBOURNE CAFE’S MAY LOOK POST LOCKDOWN

[e-mail]

@IanRoyall