A suburb in Perth's south has taken the unwanted crown of highest amount of personal bankruptcies declared over the last financial year, according to a report released today by data registry and analytics business Illion.
Although Queensland featured five of the top 10 suburbs for most bankruptcies declared, sadly, Baldivis came out on "top" of the pile for most declarations, with 105 in total.
Queensland, however, registered the most in total, with 9,415.
It's a sad reflection on where we're at at the moment as a country with regards to household debt.
Illion CEO Simon Bligh suggested that despite an apparent positive outlook for WA's economy, more pain could still be on the horizon.
"...economies in Western Australia and Queensland have turned a corner recently, with property markets stabilising and resurgent resources prices. Yet according to our analysis, a significant number of households are still doing it tough in these states.”
- Illion CEO Simon Bligh
Mr Bligh concludes by suggesting "...anyone who is experiencing financial hardship to seek help from a financial counsellor.”
Written by: @dantheinternut