Australia: Rising costs fuel economic stress

Economic stress caused by rising fuel and mortgage costs is creating the need for massive investment in public transport systems, according to research undertaken by Griffith university.

The VAMPIRE (Vulnerability Assessment for Mortgage, Petroleum and Inflation Risks and Expenses) index identifies the relative degree of socio-economic stress in suburbs in Brisbane, Sydney, Melbourne, Adelaide and Perth.


Researchers Dr Jago Dodson and Dr Neil Sipe said fuel and mortgage stress had crept steadily inward from the fringes.

“In our earlier study, areas of stress were largely located at the outer suburban mortgage belts where car dependency is high,” Dr Dodson said.

“In this study we have seen the number and geographical range of vulnerable households creep inwards as fuel costs and interest rates rise.”

Sydney Morning Herald