The latest data from the Australian Financial Security Authority to December 2016 shows the count of personal and business insolvencies across the country.
Here is the count of debtors by state in the final quarter of 2016.
All the above figures refer to personal administrations under the Bankruptcy Act only (and not corporate insolvency). A business related bankruptcy is defined as being one in which an individual’s bankruptcy is directly related to his or her proprietary interest in a business.
Here are the trends. The fall in personal insolvencies in the east coast states explains why currently mortgage delinquency remains contained.
WA appears to be experiencing the brunt of the economic pressure, which aligns with the higher mortgage default rates we are also seeing in the West and is further evidence of the distress there.
