How the Perth suburb of Baldivis became Australia’s bankrupt capital

 

PHOTO: Baldivis is the bankruptcy capital of Australia. The suburb has more than 650 homes on the market, including three in a row on Burlington Ave.Picture: Daniel Wilkins

EVERY hour Melissa’s Baldivis home spends on the property market drags her closer to financial ruin.

Despite dropping the asking price $30,000 below the $400,000 she paid seven years ago, the house has failed to attract a single offer for eight months.

If it does not sell in the next three weeks, the 39-year-old mother of three will be forced to declare bankruptcy, writing off both the Baldivis residence and an investment property in Armadale.

“We bought at the peak of the market with a $100,000 deposit after selling our previous home in Armadale,” Melissa said.

 

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