By Martin North, cross-posted from the Digital Finance Analytics Blog:
According to the latest data from the Australian Financial Security Authority, pressure is mounting in WA, with personal insolvencies in the March quarter 2016 compared to the March quarter 2015 rising 26.0%, bankruptcies increasing 19.6% and debt agreements in WA are now the highest on record. However Queensland has the highest number of insolvencies across the states with 2,197 recorded events in the quarter. This is a bellwether for mortgage defaults and house prices.
Across Australia, the number of personal insolvencies increased 2.0% in the March quarter 2016 (7,129) compared to the March quarter 2015 (6,989). It also increased 1.9% compared to the December q…
Read the full article at: http://www.macrobusiness.com.au/2016/04/wa-and-qld-bears-brunt-of-personal-insolvencies-rise/