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Loan arrears up across the state
2-October-08
Written by Emily Piesse
THE downturn in Western Australia's property sector has produced an increase in property repossessions and home loan arrears in the state, according to a report from the Reserve Bank of Australia.
Data sourced from state courts showing the number of applications by lenders for property repossessions has revealed a sharp increase in repossessions in WA.
In the three months to the end of June, 221 civil property possession applications were lodged with the WA Supreme Court - the highest level since at least 2000-01.
Article continues...
2-October-08
Written by Emily Piesse
THE downturn in Western Australia's property sector has produced an increase in property repossessions and home loan arrears in the state, according to a report from the Reserve Bank of Australia.
Data sourced from state courts showing the number of applications by lenders for property repossessions has revealed a sharp increase in repossessions in WA.
In the three months to the end of June, 221 civil property possession applications were lodged with the WA Supreme Court - the highest level since at least 2000-01.
Article continues...
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