Services

June 2017 Quarter CPI Figures Released - 26 July 2017

The Australian Bureau of Statistics released the Consumer Price Index figures for the June 2017 quarter today (for the period 1 April 2017 to 30 June 2017).

Both landlords and tenants may wish to:

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

Partner, Meryl Snow and Solicitor, Hayley O’loughlin highlight the key areas of interest for landlords and tenants.


Key areas of interest

All Groups - Brisbane

The new All Groups Index number for Brisbane for the June 2017 quarter is 111. The Index number for the June 2016 quarter was 109, so the new Index number represents an increase of 1.8% over the corresponding quarter for the previous year.

All Groups – Perth

The new All Groups Index number for Perth for the June 2017 quarter is 109.  The Index number for the June 2016 quarter was 108.2, so the new Index number represents an increase of 0.7% over the corresponding quarter for the previous year.

All Groups – Weighted average of eight capital cities

The new All Groups weighted average Index number for the eight capital cities for the June 2017 quarter is 110.7.  The weighted average Index number for the June 2016 quarter was 108.6, so the new Index number represents an increase of 1.9% over the corresponding quarter for the previous year.

All Groups – Capital cities comparison

At the All Groups level, the CPI rose in all capital cities during the June 2017 quarter when compared to the June 2016 quarter. Hobart recorded the largest increase in that regard (2.3%) closely followed by Sydney and Melbourne (2.2% respectively) and Canberra (2.1%) while the increases for the other capital cities ranged between 0.5% to 1.8%.  

A summary of the percentage changes for the capital cities is listed below:

City Index for June 2016 Index for June 2017 Percent Change
Sydney 109.3 111.7 2.2%
Melbourne 108.6 111.0 2.2%
Brisbane 109.0 111.0 1.8%
Adelaide 107.5 109.2 1.6%
Perth 108.2 109.0 0.7%
Hobart 106.4 108.9 2.3%
Darwin 108.3 108.8 0.5%
Canberra 106.4 108.6 2.1%

 

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. 


HopgoodGanim Lawyers is a full service commercial law firm. Our firm has 42 partners and more than 280 staff. We operate nationally and internationally with a focus on Asia from our two key locations of Brisbane and Perth. We offer highly skilled and agile legal teams across key sectors and areas of practice. In all of our areas of speciality, our lawyers are recognised by legal publications as leaders in their fields.