Blog

September 2018 Quarter CPI Figures Released

By Meryl Snow and Jodie Cunningham / 31 October 2018

The Australian Bureau of Statistics released the Consumer Price Index figures for the September 2018 quarter today (for the period 1 July 2018 to 30 September 2018).

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.

Partner, Meryl Snow and Associate, Jodie Cunningham 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 September 2018 quarter is 113.4. The Index number for the September 2017 quarter was 111.4, 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 September 2018 quarter is 110.8. The Index number for the September 2017 quarter was 109.5, so the new Index number represents an increase of 1.2% 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 September 2018 quarter is 113.5. The weighted average Index number for the September 2017 quarter was 111.4, 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 September 2018 quarter when compared to the September 2017 quarter. Hobart recorded the largest increase in that regard (2.7%) closely followed by Canberra (2.5%), while the increases for the other capital cities ranged between 1.2% to 2.2%.

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

City Index for September 2017 Index for September 2018 Percentage change
Sydney 112.5 114.7 2.0
Melbourne 111.5 114.0 2.2
Brisbane 111.4 113.4 1.8
Adelaide 110.4 112.4 1.8
Perth 109.5 110.8 1.2
Hobart 109.2 112.2 2.7
Darwin 109.4 110.8 1.3
Canberra 109.6 112.3 2.5

 

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 Lawyers' Property team.  

Authors
Meryl Snow
Partner
Meryl is a Partner in our Property practice with more than 30 years’ experience in general property matters and drafting and negotiating all types of lease documentation.
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