Rockingham ‘bankrupt capital of Australia’: tough times bite for locals

The top areas for insolvencies in WA for the June quarter.
The top areas for insolvencies in WA for the June quarter.

ROCKINGHAM has claimed the unwanted title of the bankruptcy capital of Australia, after new figures released by the Australian Financial Security Authority showed 96 personal insolvencies for the June quarter of 2016.

The region also recorded 16 business-related personal insolvencies, with Wanneroo the only suburb higher, with 23.

Insolvency is when a person or corporation is unable to pay their debts when they are due.

The results marks a 22.1 percent increase in insolvencies since the March quarter.

Running second in personal insolvencies was Springfield-Redbank (83) in Brisbane’s southwest and Wyong (82) on the New South Wales Central Coast.

Joondalup was the area that had the biggest rise in bankruptcies in the greater Perth area, while South Perth recorded the biggest drop.