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The Australian Republican Movement has demographics and logic on its side : Comments
By Andrew Leigh, published 3/7/2007To many Australians, voting for one of our own as head of state may look a little more attractive when it is Charles III, rather than Elizabeth II, on the throne.
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How would the Head of State under an Australian republican be selected? By popular vote? Then you introduce competition between the government of the day and the Head of State. You'd need to make a few constitutional changes as well. By the Prime Minister? Then there's no point dispensing with a constitutional monarchy - the PM already appoints the Governor-General.
Personally I think republics can work. Germany and Austria have been working quite well as republics. But unless the current system in Australia lurches into severe crisis there is little incentive to change.