June 2013 Quarter CPI Figures Released
by Meryl Snow, Craig Willey
The Australian Bureau of Statistics has today released the Consumer Price Index (CPI) figures for the June 2013 quarter (for the period March to June 2013).
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.
Key areas of interest
The new All Groups Index number for Brisbane for the June quarter is 102.5. This is an increase of 0.5 percent (or 0.5 index points) from the March 2013 quarter, which had a value of 102.0. The June 2012 quarter had an adjusted value of 100.5, so the new index represents an increase of 2.0 percent (or 2.0 index points) over the corresponding quarter for the previous year.
The new All Groups Index number for Perth for the June quarter is 103.0. This is an increase of 0.6 percent (or 0.6 index points) from the March 2013 quarter, which had a value of 102.4. The June 2012 quarter had an adjusted value of 100.5, so the new index represents an increase of 2.5 percent (or 2.5 index points) over the corresponding quarter for the previous year.
At the All Groups level, the CPI rose in all capital cities during the June 2013 quarter when compared to the June 2012 quarter. Darwin recorded the largest increase in that regard (3.9 percent) while the increases for the other capital cities ranged between 1.8 percent and 2.6 percent.
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’s Commercial and Retail Leasing team.
With offices in Brisbane and Perth, HopgoodGanim offers commercially-focused legal advice, coupled with reliable and responsive service to clients throughout Australia and across international borders.