gfresh
25-01-2009, 08:56 AM
Advanced warning for Brisbane?? With the lower rates, you would think people would be finding it much easier to meet repayments, not less...
http://www.news.com.au/couriermail/story/0,23739,24957577-5011140,00.html
THE number of homeowners not paying their household rates has reached a six-year high as the global economic crisis begins to bite.
Several councils report a rise in the number of defaults in the fourth quarter last year compared with the same period in 2007.
A Brisbane City Council spokesman said an audit of accounts revealed about 1400 homeowners were being pursued for unpaid rates – the highest number in six years.
...
Logan City Council had a rise in defaults, from 4.17 per cent in 2007 to 5.6 per cent last year.
5.6% is a fair number.. 1 in 20. In SEQ now the council has the power to put properties on the market that have multiple unpaid rates. They did this last year on the Goldcoast, I think it was 20 homes put on the market by GCCC.
For many older residents (or pensioners) who have lived in Brisbane all their lives, now their property is worth several times what they paid. I can see how some must be suffering, now must pay rates on this value.
http://www.news.com.au/couriermail/story/0,23739,24957577-5011140,00.html
THE number of homeowners not paying their household rates has reached a six-year high as the global economic crisis begins to bite.
Several councils report a rise in the number of defaults in the fourth quarter last year compared with the same period in 2007.
A Brisbane City Council spokesman said an audit of accounts revealed about 1400 homeowners were being pursued for unpaid rates – the highest number in six years.
...
Logan City Council had a rise in defaults, from 4.17 per cent in 2007 to 5.6 per cent last year.
5.6% is a fair number.. 1 in 20. In SEQ now the council has the power to put properties on the market that have multiple unpaid rates. They did this last year on the Goldcoast, I think it was 20 homes put on the market by GCCC.
For many older residents (or pensioners) who have lived in Brisbane all their lives, now their property is worth several times what they paid. I can see how some must be suffering, now must pay rates on this value.