The Australian Bureau of Statistics today released the Consumer Price Index figures for the December 2014 quarter (for the period 1 October to 31 December 2014).
Both landlords and tenants may wish to:
- check their leases to see whether a CPI rent review is due using the December quarter CPI; and
- if a rent review is due, apply the correct index number for that review.
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 December 2014 quarter is 106.7. This is an increase of approximately 1.9 percent (or 0.2 index points) from the September 2014 quarter, which had a value of 106.5. The December 2013 quarter had a value of 104.6, so the new index represents an increase of 2.0% over the corresponding quarter for the previous year.
The new All Groups Index number for Perth for the December 2014 quarter is 107.0. This is an increase of approximately 0.9 percent (or 0.1 index points) from the September 2014 quarter, which had a value of 106.9. The December 2013 quarter had a value of 104.9, so the new index represents an increase of 2.0% over the corresponding quarter for the previous year.
At the All Groups level, the CPI rose in all capital cities during the December 2014 quarter when compared to the December 2013 quarter. Brisbane and Perth recorded the largest increases in that regard (2.0%) while the increases for the other capital cities ranged between 1.1% and 1.9%.
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.
