The Australian Bureau of Statistics today released the Consumer Price Index figures for the September 2015 quarter (for the period 1 July 2015 to 30 September 2015).
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 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 2015 quarter is 108.1. This represents an increase of 0.65 percent (or 0.7 index points) from the June 2015 quarter, which had a value of 107.4. The September 2014 quarter had a value of 106.5, 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 2015 quarter is 108.1. This is an increase of approximately 0.37 percent (or 0.4 index points) from the June 2015 quarter, which had a value of 107.7. The September 2014 quarter had a value of 106.9, so the new index represents an increase of 1.1% over the corresponding quarter for the previous year.
At the All Groups level, the CPI rose in all capital cities during the September 2015 quarter when compared to the September 2014 quarter. Sydney recorded the largest increase in that regard (1.9%) while the increases for the other capital cities ranged between 0.4% and 1.5%. Sydney has now recorded the largest increase in the All Groups CPI in the last 3 quarters.
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.
