Insolvency Statistics – July 2015
The Auckland housing bubble seems to know no bounds. Numerous media articles have been written indicating overseas investors, principally from China, are to blame but will the Government’s new rules help is the question. Meanwhile, prices continue to soar to ridiculous levels. Moving to rural areas seems to be the theme of the day. It’s that, and a long commute, or downsize.
In other news, dairy prices have dropped yet again with both Fonterra and the other milk processors warning of reduced forecasts. Lenders in the rural sector will be keeping a close eye on their rural loan book at the moment.
Meanwhile, the Kiwi dollar has been losing ground against the pound and US dollar but gaining slightly against the Aussie and Euro. This will help those exporting as it makes our products cheaper overseas but hurt those looking to import. The Reserve Bank has a few difficult decisions ahead.
On the technology front, the Apple Watch is coming the NZ but is it really all its cracked up to be? Also, it was interesting to see plans to provide charging stations for electric vehicles in key locations in Auckland. While most electric cars are as exiting as watching paint dry, I have to admit that the BMW i8 looks quite cool.
April, May & June Comparison of
Insolvency Appointments 2011, 2012, 2013, 2014 & 2015
What the figures are showing?
- There were 200 insolvency appointments in June 2015 which is comparable to last years low point. There were 12 receivership appointments, 188 liquidations recorded and no administrations.
- The total number of insolvency appointments for the year to date were 1219 which is still up on 2014 (1179) but lower than previous years.
- Applications made to the High Court to liquidate companies totaled 99 for June 2015, 71 of which were made by the IRD. This is over 40% down on June 2014.
Year to Date Comparison of Insolvency Appointments 2011 to 2015