Leasing Alert: Important Information for Landlords: March quarter CPI figures just released - 28 Apr 2011

Important Information for Landlords: March quarter

CPI figures just releasedThe Australian Bureau of Statistics has released the Consumer Price Index figures for the March 2011 quarter (January - March 2011).

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.

This CPI edition is likely to apply to leases which are due for CPI rent review in April, May and June 2011.

Other CPI information

The All Groups Index number for Brisbane for the March quarter is 182.3, an increase of 1.27 percent (or 2.3 index points) over the December 2010 quarter, which was 180. The new figure represents an increase of 3.57 percent (or 6.3 index points) over the corresponding quarter for the previous year.

When comparing CPI increases for the capital cities since the previous quarter, the CPI rose in all capital cities, with the highest movement in Melbourne (+1.7 percent) followed by Sydney (+1.6 percent) and Adelaide (+1.6 percent). The remaining capital cities rose between 1.1 and 1.5 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.