Commercial and Retail Leasing Alert: December 2012 Quarter CPI Figures Released - 23 Jan 2013

The Australian Bureau of Statistics has today released the Consumer Price Index figures for the December 2012 quarter (for the period September to December 2012).

Landlords may wish to:

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

Partner Meryl Snow and senior associate Craig Willey highlight the key areas of interest for landlords.

Key areas of interest

The new All Groups Index number for Brisbane for the December quarter is 101.9. This is an increase of 0.3 percent (or 0.3 index points) from the September 2012 quarter, which had an adjusted value of 101.6. The December 2011 quarter had an adjusted value of 99.7, so the new index represents an increase of 2.2 percent (or 2.2 index points) over the corresponding quarter for the previous year.

At the All Groups level, the CPI rose in all capital cities during the December 2012 quarter when compared to the December 2011 quarter. Sydney and Darwin recorded the largest increases in that regard (2.5 percent each), while the increases for the other capital cities ranged between 1.0 and 2.2 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.