The Australian Bureau of Statistics today released the Consumer Price Index figures for the December 2015 quarter (for the period 1 October 2015 to 31 December 2015).
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 highlights the key areas of interest for landlords and tenants.
Key areas of interest
The new All Groups Index number for Brisbane for the December 2015 quarter is 108.5. This represents an increase of 0.4 percent (or 0.4 index points) from the September 2015 quarter, which had a value of 108.1. The December 2014 quarter had a value of 106.7, so the new index represents an increase of 1.7 % over the corresponding quarter for the previous year.
The new All Groups Index number for Perth for the December 2015 quarter is 108.6. This is an increase of approximately 0.5 percent (or 0.5 index points) from the September 2015 quarter, which had a value of 108.1. The December 2014 quarter had a value of 107.0, so the new index represents an increase of 1.5% over the corresponding quarter for the previous year.
At the All Groups level, the CPI rose in all capital cities during the December 2015 quarter when compared to the December 2014 quarter. Sydney recorded the largest increase in that regard (2.0%) while the increases for the other capital cities ranged between 0.5% and 1.9%. Hobart recorded the highest increase for the December quarter at 0.9%.
A detailed breakdown of CPI figures is available at the Australian Bureau of Statistics website.