By the stats: Weekly wrap of SA economic data
In this week’s summary of SA economic data, personal insolvency levels improve with one dark spot, and weekly rents in Adelaide fall.
Rents fall
Rental rates fell across Australia in July, with Adelaide suffering one of the biggest monthly falls of all capital cities.
According to analysis from CoreLogic RP Data, rental rates across the combined capital cities fell by 0.3 per cent over the month, and increased by just 0.9 per cent over the past 12 months.
The annual rise was the slowest rate of growth on record, with the data going back to December 1995.
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CoreLogic RP Data attributes the “sluggish” pace of rental appreciation to the ongoing boom in housing construction across Australia.
Sydney and Hobart recorded the greatest increase in weekly rents.
Over the past month, Adelaide’s rental rates decreased by 0.8 per cent. Only Darwin had a greater decline, falling 0.9 per cent.
The tables below show the change in rental rates for houses and units across the capital cities over the past 12 months.
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Personal insolvency
June quarter personal insolvency statistics show a fall in the number of debtors in South Australia – but with one dark spot in regional parts of the state.
The data, produced by the Australian Financial Security Authority, shows the number of debtors in greater Adelaide dropped by 0.3 per cent in the June quarter. The number of debtors who entered a business-related personal insolvency fell by 17.4 per cent.
For the rest of SA, the number of debtors fell 4.2 per cent.
However, in regional SA the number of debtors who entered a business-related personal insolvency increased by 10 per cent.
The main contributing area to the increase was the Mid North, which includes the towns of Jamestown, Peterborough and Port Pirie.
The weekly wrap of economic data is published in Business InSight every Thursday.
