Services

Commercial and Retail Leasing Alert: September 2013 Quarter CPI Figures Released 23 October 2013

The Australian Bureau of Statistics released the Consumer Price Index figures for the September 2013 quarter (for the period June to September 2013) today.
 
Landlords may wish to:
  • check their leases to see whether a CPI rent review is due this quarter; and
  • apply the correct index number for that review, if a rent review is due.
Partner Meryl Snow and senior associate Craig Willey highlight the key areas of interest for landlords in this Alert.

Key points

The new All Groups Index number for Brisbane for the September quarter is 103.8. This is an increase of 1.3 percent (or 1.3 index points) from the June 2013 quarter, which had a value of 102.5.
 
The September 2012 quarter had an adjusted value of 101.6, so the new index represents an increase of 2.2 percent (or 2.2 index points) over the corresponding quarter for the previous year.
The new All Groups Index number for Perth for the September quarter is 104.2. This is an increase of 1.2 percent (or 1.2 index points) from the June 2013 quarter, which had a value of 103.0.
The September 2012 quarter had an adjusted value of 101.6, so the new index represents an increase of 2.6 percent (or 2.6 index points) over the corresponding quarter for the previous year.
At the All Groups level, the CPI rose in all capital cities during the September 2013 quarter when compared to the September 2012 quarter. Darwin recorded the largest increase in that regard (3.4 percent) while the increases for the other capital cities ranged between 1.7 percent and 2.6 percent.
A detailed breakdown of CPI figures is available on 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.
With offices in Brisbane, Perth and on-the-ground support in Shanghai, HopgoodGanim offers commercially focused legal advice, coupled with reliable and responsive service, to clients throughout Australia and across international borders.