The Australian Bureau of Statistics released the Consumer Price Index figures for the September 2017 quarter today (for the period 1 July 2017 to 30 September 2017).

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 Solicitor, Hayley O’loughlin highlight the key areas of interest for landlords and tenants.

Key areas of interest

All Groups - Brisbane

The new All Groups Index number for Brisbane for the September 2017 quarter is 111.4. The Index number for the September 2016 quarter was 109.7, so the new Index number represents an increase of 1.5% over the corresponding quarter for the previous year.

All Groups – Perth

The new All Groups Index number for Perth for the September 2017 quarter is 109.5. The Index number for the September 2016 quarter was 108.6, so the new Index number represents an increase of 0.8% over the corresponding quarter for the previous year.

All Groups – Weighted average of eight capital cities

The new All Groups weighted average Index number for the eight capital cities for the September 2017 quarter is 111.4. The weighted average Index number for the September 2016 quarter was 109.4, so the new Index number represents an increase of 1.8% over the corresponding quarter for the previous year.

All Groups – Capital cities comparison

At the All Groups level, the CPI rose in all capital cities during the September 2017 quarter when compared to the September 2016 quarter. Melbourne recorded the largest increase in that regard (2.2%) closely followed by Canberra (2.1%) and Hobart (2.0%) while the increases for the other capital cities ranged between 0.6% to 1.9%.

A summary of the percentage changes for the capital cities is listed below:

City Index for September 2016 Index for September 2017 Percentage change
Sydney 110.4 112.5 1.9%
Melbourne 109.1 111.5 2.2%
Brisbane 109.7 111.4 1.5%
Adelaide 108.4 110.4 1.8%
Perth 108.6 109.5 0.8%
Hobart 107.1 109.2 2.0%
Darwin 108.7 109.4 0.6%
Canberra 107.3 109.6 2.1%

A detailed breakdown of CPI figures is available at the Australian Bureau of Statistics website.