Tasmanian bankruptcies decline, economy on the up in new figures

Tasmanian bankruptcies dropped by 4.9 per cent in the December quarter, while nationally bankruptcies rose by 1.3 per cent during the same period. 

The treasury analysis shows that Tasmania’s economy is poised to continue its recovery, according to Launceston Chamber of Commerce executive officer Neil Grose.

“Investment by business in plant and equipment is still rising, sales of new vehicles is exceeding the national result in terms of percentage growth and retail trade is growing in line with the national trend,” Mr Grose said.

“In the same vein [as the bankruptcy figures], debt agreements are down 15 per cent in Tasmania, but are up nationally by 15 per cent in the same time period, signalling that business is certainly doing better here.

“This is also backed up by real estate figures which show a very strong residential market in Hobart and the northern market also showing very positive signs of price increases.”