There's a common understanding amongst Aussies (or at least, the Aussies that I know) that we were waiting for Liz to die before getting on with becoming a republic. For 2 reasons:

1. There was a sense of loyalty to Liz personally. She did a good job of Queening and it seemed almost rude to interrupt that.

2. No-one wants Charles as king. He's very weird, and has ideas that he actually wants to do things with.

I fully expect the referendum to be brought forward because of her death, and for it to get a strong "yes".