Bankruptcies up 4% in FY2018

A four per cent increase in personal bankruptcies during the 2018 financial year has seen 32,350 Australians declare bankruptcy at a time when household debt remains at historic highs, according to illion’s Personal Bankruptcy Analysis.

“The lights are flashing red across several regions in terms of rising consumer stress levels. Sydney’s declining property market and the significant rise in personal bankruptcies could be mirrored in Melbourne in FY2019, as its property market is showing signs of following the same downwards trajectory.”

Simon Bligh, illion CEO