Recently, the Australian Financial Security Authority (AFSA) released its regional personal insolvency statistics for the March Quarter 2016.

The full range of statistics can be viewed here.  For the time being, we offer the following key findings:

• The number of debtors (Australia wide) entering personal insolvency increased 1.5% in the March quarter 2016 when compared with the December quarter 2015;
• This increase has largely been caused by significant increases in personal insolvencies in Queensland and Western Australia with a 5.1% increase in personal insolvencies in the Sunshine State since December and a whopping 10.9% increase in the same period for WA;
• For completeness, New South Wales saw a fall in personal insolvencies in Greater Sydney of 4.3% and of 2.9% in the rest of New South Wales, since December 2015.

It will certainly be interesting to see if the trends continue through to the end of the June Quarter 2016.

For more information, please contact ERA Legal.