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.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
