Regional WA the insolvency hotspot
The number of people entering personal insolvency arrangements in regional Western Australia rose 22 per cent in the September quarter, compared with the June quarter. The increase from 173 to 213 during the quarter was the second-fastest rate of growth in insolvency in the country.The fastest growth was in Darwin, although the number of people involved was small. Insolvencies in the Northern Territory capital were up 25.6 per cent to 54.According to the Australian Financial Security Authority, 7590 Australians entered personal insolvency during the September quarter.The number of people entering bankruptcy, a debt agreement or a personal insolvency agreement fell in Sydney and the rest of New South Wales, Melbourne, Brisbane and the rest of Queensland, and Adelaide.In addition to regional WA and Darwin, insolvencies rose 6.7 per cent in the Australian Capital Territory, 0.5 per cent in regional Victoria, 4.5 per cent in regional South Australia, 0.7 per cent in Perth and 8.5 per cent in Tasmania.