Services

Commercial and Retail Leasing Alert: December 2013 Quarter CPI Figures Released 22 January 2014

The Australian Bureau of Statistics has today released the Consumer Price Index figures for the December 2013 quarter (for the period September to December 2013).
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.

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

Key areas of interest

Brisbane

The new All Groups Index number for Brisbane for the December quarter is 104.6. This is an increase of 0.8 percent (or 0.8 index points) from the September 2013 quarter, which had a value of 103.8.

The December 2012 quarter had an adjusted value of 101.9, so the new index represents an increase of 2.6 percent over the corresponding quarter for the previous year.

Perth

The new All Groups Index number for Perth for the December quarter is 104.9. This is an increase of 0.7 percent (or 0.7 index points) from the September 2013 quarter, which had a value of 104.2.

The December 2012 quarter had an adjusted value of 101.9, so the new index represents an increase of 2.9 percent over the corresponding quarter for the previous year.

Nationally

At the All Groups level, the CPI rose in all capital cities during the December 2013 quarter when compared to the December 2012 quarter. Darwin recorded the largest increase in that regard (4.4 percent) while the increases for the other capital cities ranged between 2.3 percent and 2.9 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.

Now in its 40th year and with offices in Brisbane, Perth and a presence on-the-ground in Shanghai, HopgoodGanim offers commercially focused legal advice, coupled with reliable and responsive service, to clients throughout Australia and across international borders.