The Australian Bureau of Statistics today released the Consumer Price Index figures for the September 2014 quarter (for the period 1 July to 30 September 2014).
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.
In this Alert, 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 2014 quarter is 106.5. This is an increase of approximately 0.7 percent (or 0.7 index points) from the June 2014 quarter, which had a value of 105.8. The September 2013 quarter had a value of 103.8, so the new index represents an increase of 2.6 percent over the corresponding quarter for the previous year.
- The new All Groups Index number for Perth for the September 2014 quarter is 106.9. This is an increase of approximately 0.5 percent (or 0.5 index points) from the June 2014 quarter, which had a value of 106.4. The September 2013 quarter had a value of 104.2, so the new index represents an increase of 2.6 percent over the corresponding quarter for the previous year.
- At the All Groups level, the CPI rose in all capital cities during the September 2014 quarter when compared to the September 2013 quarter. Darwin recorded the largest increases in that regard (2.7 percent) while the increases for the other capital cities ranged between 1.9 percent and 2.6 percent.
- A detailed breakdown of CPI figures is available at 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.
