Home repos jump in CQ
THE end of the financial year seems to have marked tough times for a number of CQ residents, with a spike in the number of land repossession claims lodged in Rockhampton courts.
There were five home repossession claims lodged in the Rockhampton court for the month of July alone, a figure that almost matches the yearly total for Mackay.
While this may not seem like a large figure, local financial experts are warning that it could be just the tip of the iceberg.
Greg Case, Central Queensland's financial counsellor for the Salvation Army's financial arm Moneycare, said demand for support was growing with more financial counsellors now operating in the Rockhampton region than ever before.
"Following natural disasters it often took three years for a community to fully recover," Mr Case said.
He said those hurting included people who had experienced a change in their employment situation.
Mr Case encouraged people who were struggling to seek support. He said counsellors could help.
"What I am seeing is a large number of clients suffering some form of depression which is being exacerbated by their financial circumstances," he said.
This combined with the knock-on effect of European uncertainty, a slowing Chinese economy and the two-speed economy in Central Queensland were all having an impact.
Mr Case said Cairns had recently recorded a record number of home repossessions.
Last month Rockhampton man Greg Weeding went public with his dire financial situation after his bank repossessed his home, business and a number of properties.
