Record fall in insolvencies

Nobody goes broke

This has been a most unusual recession.

With record low mortgage rates and all of the various stimulus measures in place, personal insolvencies dropped by a record -35.1 per cent year-on-year to just 4,239 in the June quarter.

Per head of the population the rate of insolvency has improved everywhere. 

Bankruptices fell -16 per cent over the year to the lowest level in 24½ years.

Strange times, but presumably there will be eventually more insolvencies as eviction bans and mortgage holidays end.