Commercial and Retail Leasing Alert: December 2011 Quarter CPI Figures Released - 27 Jan 2012

The Australian Bureau of Statistics has released the Consumer Price Index figures for the December 2011 quarter (for the period September to December 2011).

Landlords may wish to:

  • check their leases to see whether a CPI rent review is due; and
  • if a rent review is due, apply the correct index number for that review.

Here, senior associate Craig Willey highlights the key areas of interest for landlords.

Key areas of interest for landlords

This CPI figure is likely to apply to leases which are up for rent review in January, February or March 2012, where the index relevant is that most recently published at the time of the review.

The new All Groups Index number for Brisbane for the December quarter is 184.4. This is a decrease of 0.16 percent (or 0.3 index points) over the September 2011 quarter, which was 184.7. The December 2010 quarter was 180.0, so the new index represents an increase of 2.44 percent (or 4.4 index points) over the corresponding quarter for the previous year.

When comparing CPI increases for the capital cities since the previous quarter, the CPI fell in four capital cities (Sydney, Brisbane, Adelaide and Darwin). The highest positive movement for the quarter were Canberra (0.3 percent) and Perth (0.2 percent).

A detailed breakdown of CPI figures is available at the Australian Bureau of Statistics website.

For more information about applying CPI figures to your leases, please contact HopgoodGanim's Commercial and Retail Leasing team.