City of Wanneroo residents feel weight of debt

THE City of Wanneroo has more residents struggling to pay debt this year than anywhere else in Australia, insolvency figures from the Australian Financial Security Authority reveal.

Statistics for the March quarter showed 25 City of Wanneroo residents were declared insolvent for business reasons and 82 residents for non-business reasons, leaving a total of 107 insolvencies.

The next highest was Melbourne local government area Wyndham City, which had 100 from 88 non-business insolvencies and 12 related to business.

Behind Wanneroo in WA was the City of Rockingham, which had 62 personal and 12 business-related insolvencies.

The two districts were the biggest contributors to a statewide 13.1 per cent increase in non-business insolvencies compared with the December 2015 quarter.

But it was not all bad news for WA, with statewide business-related insolvencies falling by 12.2 per cent.

This was boosted by an improvement in the financial climate of a number of suburbs, including the City of Joondalup.