If Australian governments in the last 50 years had not allowed the rampant inflation of land & house prices then they would not be able to do this.

The same thing happens frequently here in the U.S. They'll raise rent until all the shops are gone then bulldoze the whole place and replace it with a mega chain store or overpriced apartments or something like that. So, instead of a community of small business owners making an income for themselves there will just be one company getting richer and giving little or nothing back to the people of that town except maybe some low wage jobs.

To be expected from them. That is why they must be held accountable at all times.