Western Australia has posted the largest increase in insolvency actions compared to other states, rising by over 25 per cent over the year, according to Insolvency and Trustee Service Australia.
In its September quarter review, the firm said insolvency actions rose from 405 to 507, an increase of 25.2 per cent compared to the last year's corresponding period.
Across Australia, there were 9007 instances of personal insolvency in the quarter, 12.6 per cent higher than the 8001 recorded a year earlier.
Within the total, there were 6,693 bankruptcies, 5.7 per cent up from the previous September quarter.
There were 2,202 new debt agreements, a 35.6 per cent increase, and 112 new personal insolvency agreements, more than double the year-ago level.
Insolvency actions in New South Wales rose by 15.7 per cent to 3,391 from 2,931. The state dominated the national figure with a 37.6 per cent share.
Victoria, with a rise to 2,165 from 1,961, was the runner-up although its growth rate was below average at 10.4 per cent.
