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September 2016 Quarter CPI Figures Released - 26 October 2016

The Australian Bureau of Statistics today released the Consumer Price Index figures for the September 2016 quarter (for the period 1 July 2016 to 30 September 2016).

Both landlords and tenants may wish to:

  • check their leases to see whether a CPI rent review is due using the September quarter CPI; 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 and tenants.

Key areas of interest

The new All Groups Index number for Brisbane for the September 2016 quarter is 109.7.  This represents an increase of 0.64% (or 0.7 index points) from the June 2016 quarter, which had a value of 109.0. The September 2015 quarter had a value of 108.1, so the new index represents an increase of 1.5% over the corresponding quarter for the previous year.

The new All Groups Index number for Perth for the September 2016 quarter is 108.6.  This represents an increase of 0.37% (or 0.4 index points) from the June 2016 quarter, which had a value of 108.2. The September 2015 quarter had a value of 108.1, so the new index represents an increase of 0.5% over the corresponding quarter for the previous year.

At the All Groups level, the CPI rose in all capital cities except Darwin (which did not change) during the September 2016 quarter when compared to the September 2015 quarter. Sydney recorded the largest increase in that regard (1.7%) while the increases for the other capital cities (excluding Darwin) ranged between 0.5% and 1.5%.  A summary of these percentage changes are listed below:

City
Index for Sept 2016
Index for Sept 2015
Percentage Change
Sydney
110.4
108.6
1.7%
Melbourne
109.1
107.6
1.4%
Brisbane
109.7
108.1
1.5%
Adelaide
108.4
107.1
1.2%
Perth
108.6
108.1
0.5%
Hobart
107.1
105.7
1.3%
Darwin
108.7
108.7
0%
Canberra
107.3
105.8
1.4%

 

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 commercial law firm. Our firm has 41 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.