Personal insolvencies remain at their lowest levels in 30 years: Pete Wargent

Personal insolvencies remain at their lowest levels in 30 years: Pete Wargent
Personal insolvencies remain at their lowest levels in 30 years: Pete Wargent

EXPERT OBSERVER

Personal insolvencies hit their lowest level since 1990 in the December 2019 quarter, and were again some -16.5 per cent lower year-on-year in the March 2020 quarter.

 

This is all the more remarkable when you consider the stats on a per capita rolling annual basis, where they appeared to be racing towards zero in the March quarter.

Part IV and XI bankruptices were also some 16 per cent lower year-on-year.

ASIC's insolvency figures all showed a sharp drop in insolvencies in April, presumably partly related to the government's stimulus measures.

Construction insolvencies also fell to a series low in the March 2020 quarter, thanks to low interest rates perhaps.

 

Let's see what September brings, and whether or not there is a financial 'cliff' (not if the government is smart about things).

Pete Wargent

Pete Wargent

Pete Wargent is the co-founder of BuyersBuyers.com.au, offering affordable homebuying assistance to all Australians, and a best-selling author and blogger.

Tags: 
Insolvencies Bankruptcy

Comments

Be the first one to comment on this article
What would you like to say about this project?