Victorian Property Sales Report

Median House Prices Report on the September 2011 quarter ISSN 1834-2167

The publishers and authors have attempted to ensure accuracy and completeness of the information contained in this publication. However, no responsibility can be accepted for any errors and inaccuracies that occur. Published 2012 by Land Victoria © The State of Victoria, Department of Sustainablity and Environment 2012.

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Distribution and availability All enquiries to: LANDATA® Land Victoria Department of Sustainability and Environment Level 14, 570 Bourke Street Melbourne Vic 3000 Telephone (03) 8636 2456 Facsimile (03) 8636 2083 Email [email protected] Explanatory Notes

purchaser within one month of the acquisition of any real estate in Victoria. The State Revenue Office supplies the Valuer-General with a copy of the completed NOA for each transaction under the provisions of the Land Tax Act 1958. The information is collated and loaded onto a master property file. The table and charts presented in this report are derived from analysis of sales data. Some property settlements can take up to 120 days or longer, which means some data for a particular quarter may not be received by the Valuer-General until well after the end of the quarter. The reader should note that limited sales recorded in a quarter may cause statistics for that quarter to be skewed. Similarly, small numbers of sales in rural areas can distort sales trends. The median sale price, as used throughout the report, is the value of the middle item when all sale prices are arranged in ascending order of magnitude. he aim of the Victorian Property Sales Report is to The number of sales comprises Tpresent factual information the total number of properties relating to property sales occurring changing ownership. These sales throughout Victoria over a period statistics do not include transfers of 15 months. of titles that relate to legacies and gifts. The suburb medians are presented in three-month segments, Considerable care has been taken commonly referred to as quarters. to ensure the accuracy and quality of information and computer Medians for metropolitan programs used to derive these Melbourne, country Victoria and tables and charts. However, the the state as a whole are also Department of Sustainability included for the same time period. and Environment accepts no The figures for the most recent responsibility for the accuracy of quarter are preliminary and the results obtained and persons represent about 87 per cent of land using this information are strongly sales and 92 per cent of house and advised to seek confirmation of any unit sales expected for the quarter. statistical information. This is because the information The information contained in used to compile the report this report is for the use of the is obtained from Notices of purchaser. It is not to be published Acquisition (NOA), which are or reproduced without the consent required to be completed by each of the department.

Page 1 Quarterly property sales statistics Overall observations

median prices across the board in the September 2011 quarter: median house prices decreased by 4.1 per cent to $480,000 and units decreased by 2.1 per cent to $420,900. Vacant land decreased by 2.2 per cent for the quarter to $209,300. House and unit median prices in metropolitan Melbourne showed a slight decrease for the 12 months to September 2011: a 2.0 per cent decrease for houses and a 1.2 per cent decrease for units. Vacant land in metropolitan Melbourne showed an increase of 7.3 per cent for the 12 months, up from $195,000 to he residential housing $209,300. These broad changes property market (median were influenced by both the inner- house price) in Victoria fell by T Melbourne and outer-suburban 3.8 per cent during the September property markets. quarter of 2011, having risen by 2.2 per cent in the previous quarter In the September 2011 quarter (June 2011). the median house price in country Victoria fell by 1.8 per cent from The median price of houses in $280,000 in the June quarter to Victoria decreased from $426,000 in $275,000. Units decreased by the June 2011 quarter to $410,000 4.8 per cent to $228,500. Vacant in September. For the 12 months land increased by 4.2 per cent, from September 2010 to September to $125,000. Over the 12 months 2011, median house prices in to September 2011 the country Victoria decreased by 1.9 per cent residential property market from $418,000 to $410,000. demonstrated both positive and The median price of units in negative changes: houses increased Victoria decreased from $409,600 in by 1.9 per cent, units decreased the June 2011 quarter to $400,000 by 4.0 per cent and vacant land at the end of the September 2011 increased by 5.0 per cent. quarter (a 2.3 per cent decrease), Of the 695 listed Victorian having increased by 2.4 per cent in locations, 247 had median house the previous quarter. The median price increases for the September price of units in Victoria for the 2011 quarter compared to 291 in September quarter 2011 was lower the June quarter. Thirty-six localities than the median price of houses. recorded no change and 412 For the 12 months from September showed a decrease. 2010 to September 2011, the median unit price remained The maximum number of house unchanged at $400,000. sales for the quarter was Pakenham with 200. There were 11 locations The median price of vacant land with 100 or more sales for the across Victoria rose by 1.0 per September 2011 quarter. Of these, cent from $173,300 in the June nine were in outer-metropolitan 2011 quarter to $175,000 in the areas (Reservoir 105, Pakenham September 2011 quarter. The 200, Berwick 199, Frankston 137, September 2011 figure is a 0.6 per Werribee 110, Hoppers Crossing cent increase on the September 138, Craigieburn 148, Sunbury 134 2010 quarter figure of $174,000. and Point Cook 128) and two were Metropolitan Melbourne sales in regional areas (Mildura 119 and statistics show a decrease of Traralgon 107). Page 2 Quarterly update – July 2011–September 2011 Victorian Valuer-General, Robert Marsh

provided – defined by regional suburb location and township size – may be useful for analysis and comparison. The use of simple comparisons – increases and decreases in median prices between similar suburbs or towns – disregards the number of sales comprising the median and can be misleading in some instances. It should be remembered that suburbs and towns with higher numbers of sales provide the best guide to trends. Property analysts will be able to define and explain various locations’ trends using their knowledge of individual locations and their associated sub-market anomalies. This is the purpose of publishing a comprehensive set of data for the whole of Victoria, as reported to Land Victoria over the 15 months to September 2011. A sub-market group is a set of properties grouped by land values and other market characteristics or attributes common to the group, such as land use or building construction. It is estimated that almost 92 per cent of sales for the September quarter of 2011 and 98 per cent for the June quarter of 2011 are included in the data, making it the most comprehensive and authoritative property information available. By allowing extra time for data collection, the Victorian Property Sales Report provides an accurate picture of the property market to provide certainty for ouse sales data for the whole government, the property industry, of Victoria for the quarter purchasers and sellers. ending September 2011 H The number of house sales so far indicates that the median house sale recorded across Victoria for the price decreased by 3.8 per cent, from September 2011 quarter is 15,517. $426,000 to $410,000. This compares Using the above percentage it is to an increase of 2.2 per cent in the anticipated that the number of sales June 2011 quarter. for the September 2011 quarter will Quoting the highest and lowest be approximately 16,685. This is a 9.0 increases and decreases for the per cent decrease on the number of quarter does not necessarily sales in the June 2011 quarter and an provide a definitive indication of 11.3 per cent decrease on the same the property market. However, the quarter the previous year (September examples of sub-market groupings 2010).

Page 3 Metropolitan Melbourne House prices in metropolitan Melbourne decreased by 4.1 per cent in the September 2011 quarter, from $500,500 to $480,000. This follows an increase of 3.2 per cent in the previous quarter. The number of metropolitan sales for the quarter is expected to culminate at 11,736, slightly lower than the June 2011 quarter, which had the lowest quarterly sales volume since the June 2009 quarter.

Inner suburbs (within 10 km of Melbourne CBD)

Suburb September June September % Change % Change Quarter Quarter Quarter Sep 2010– Jun 2011– 2010 $ 2011 $ 2011 $ 2011 Sep 2011 Ascot Vale 762,300 739,000 710,000 -6.9 -3.9 Brunswick 715,000 677,500 658,300 -7.9 -2.8 Caulfield 1,035,000 905,000 875,000 -15.5 -3.3 South Fitzroy North 890,000 852,500 800,000 -10.1 -6.2 Flemington 621,500 670,500 655,000 5.4 -2.3 Footscray 565,000 525,000 533,500 -5.6 1.6 Hawthorn 1,218,000 1,369,500 1,500,000 23.2 9.5 Malvern 2,155,000 1,691,500 1,172,500 -45.6 -30.7 Preston 600,000 625,000 570,000 -5.0 -8.8 Richmond 901,000 808,500 853,800 -5.2 5.6 South 1,075,000 925,000 771,000 -28.3 -16.6 Melbourne South Yarra 978,800 1,100,000 970,000 -0.9 -11.8 St Kilda 860,000 760,000 850,000 -1.2 11.8 Toorak 2,386,000 2,600,000 2,511,000 5.2 -3.4 Williamstown 915,000 925,000 855,000 -6.6 -7.6

Eastern suburbs (10–20 km from Melbourne CBD) Suburb September June September % Change % Change Quarter Quarter Quarter Sep 2010– Jun 2011– 2010 $ 2011 $ 2011 $ 2011 Sep 2011 Balwyn 1,465,000 1,250,000 1,399,000 -4.5 11.9 Blackburn 821,500 805,000 701,500 -14.6 -12.9 Box Hill 726,000 700,000 660,000 -9.1 -5.7 North Box Hill 868,500 763,000 693,000 -20.2 -9.2 South Burwood 781,500 799,500 794,000 1.6 -0.7 Camberwell 1,290,000 1,243,800 1,242,500 -3.7 -0.1 Glen Iris 1,275,000 1,183,000 1,185,000 -7.1 0.2 Oakleigh 755,000 735,000 683,500 -9.5 -7.0 Surrey Hills 1,290,000 1,175,000 1,242,500 -3.7 5.7

Page 4 Western suburbs (10–20 km from Melbourne CBD) Suburb September June September % Change % Change Quarter Quarter Quarter Sep 2010– Jun 2011– 2010 $ 2011 $ 2011 $ 2011 Sep 2011 Altona 633,500 567,500 536,000 -15.4 -5.6 Cairnlea 445,000 534,000 445,000 0.0 -16.7 Deer Park 355,000 355,000 355,000 0.0 0.0 Derrimut 405,000 430,000 400,000 -1.2 -7.0 Keilor East 616,600 573,000 575,000 -6.8 0.3 St Albans 394,300 401,000 365,000 -7.4 -9.0 St Albans 296,000 325,000 313,300 5.8 -3.6 Park Sunshine 433,000 455,000 430,000 -0.7 -5.5 Sunshine 400,000 400,000 381,500 -4.6 -4.6 West

Outer-western suburbs (20+ km from Melbourne CBD) Suburb September June September % Change % Change Quarter Quarter Quarter Sep 2010– Jun 2011– 2010 $ 2011 $ 2011 $ 2011 Sep 2011 Caroline 415,000 410,000 415,000 0.0 1.2 Springs Hillside 400,000 390,000 409,300 2.3 4.9 (Melton) Hoppers 330,000 329,300 330,800 0.2 0.5 Crossing Point Cook 435,000 460,000 432,500 -0.6 -6.0 Sydenham 412,500 411,800 395,000 -4.2 -4.1 Tarneit 365,500 375,000 370,000 1.2 -1.3 Taylors Hill 415,500 487,000 430,000 3.5 -11.7 Werribee 320,000 315,000 310,000 -3.1 -1.6

Outer-eastern suburbs (20+ km from Melbourne CBD) Suburb September June September % Change % Change Quarter Quarter Quarter Sep 2010– Jun 2011– 2010 $ 2011 $ 2011 $ 2011 Sep 2011 Bayswater 435,300 470,000 430,000 -1.2 -8.5 Bayswater 450,500 470,000 410,800 -8.8 -12.6 North Boronia 470,000 450,000 450,000 -4.3 0.0 Ferntree 447,000 435,000 420,000 -6.0 -3.4 Gully Heathmont 558,000 555,000 522,600 -6.4 -5.8 Wantirna 537,500 530,500 510,000 -5.1 -3.9 Wantirna 565,000 577,500 515,000 -8.8 -10.8 South

Page 5 The data does not indicate the general location of the 4.1 per cent decrease in metropolitan Melbourne housing values. It does indicate the need for data analysts to undertake their own detailed research. It has generally been observed that there are more suburbs showing a decrease in median house price in the September 2011 quarter compared to the June 2011 quarter (192 metropolitan suburbs with 10 or more sales show a decrease in median house price for this quarter, compared to 181 suburbs in the June 2011 quarter). One-hundred-and-two metropolitan suburbs with 10 or more sales in both of the last two quarters shifted from showing a median price increase for the June 2011 quarter to a median price decrease for the September 2011 quarter. For example, Oakleigh decreased by 7.0 per cent for the September 2011 quarter, while it showed an 8.9 per cent increase for the previous quarter. This compares to 136 metropolitan suburbs shifting from a decrease to an increase in the June 2011 quarter. Conversely, no metropolitan suburbs with 10 or more sales in both of the last two quarters have shifted from showing a median price decrease for the June 2011 quarter to a median price increase for the September 2011 quarter. This compares to 89 metropolitan suburbs shifting from a decrease to an increase in the June 2011 quarter. Seventy-nine metropolitan suburbs with 10 or more sales in the last two quarters showed decreases for the June and September quarters in 2011. This is compared to 96 metropolitan suburbs in the previous quarter. Significant examples include Blackburn, Elwood and Armadale. The biggest increase in median price in a suburb with 10 or more sales occurred in Keilor, which had 10 sales and rose by 34.0 per cent ($540,000 to $723,800). The next biggest increase in the Melbourne metropolitan area occurred in Canterbury, which had 24 sales and rose by 27.2 per cent to 2,152,500. For the quarter, Malvern had the largest (metropolitan Melbourne) median house price decrease in a suburb with 10 or more sales. Malvern had 26 house sales and its median house price decreased by 30.7 per cent from $1,691,500 to $1,172,500. Mont Albert North experienced the second- highest median price decrease in metropolitan Melbourne. It had 19 sales and its median price decreased by 26.5 per cent from $1,020,000 to $750,000. Millgrove had the lowest median price ($215,800) for metropolitan suburbs in the September 2011 quarter. The median house price in Millgrove decreased by 14.9 per cent from the June 2011 quarter. Toorak continued to have the highest median price at $2,511,000, a decrease of 3.4 per cent from the previous quarter and a 5.2 per cent increase for the 12 months to September 2011.

Page 6 Country Victoria

Country Victoria’s median house price decreased by 1.8 per cent for the September 2011 quarter, falling from $280,000 to $275,000. Over the 12 months to September 2011, the median house price in country Victoria increased by 1.9 per cent.

The number of country Victoria house sales for the September quarter is expected to be 4,948, which is 10.7 per cent less than the September 2010 quarter.

A comparison of house prices in regional, seaside and large towns also indicates various trends.

Regional cities Suburbs in September June September % Change % Change regional cities Quarter Quarter Quarter Sep 2010– Jun 2011– 2010 $ 2011 $ 2011 $ 2011 Sep 2011 Ballarat 280,000 300,000 320,000 14.3 6.7 Central Bendigo 324,000 305,000 270,000 -16.7 -11.5 Geelong 479,000 460,000 545,000 13.8 18.5 Horsham 183,800 210,000 202,500 10.2 -3.6 Mildura 210,000 221,000 218,000 3.8 -1.4 Shepparton 250,500 245,000 232,000 -7.4 -5.3 Warrnambool 321,000 321,800 325,000 1.2 1.0 Wodonga 237,500 271,000 272,000 14.5 0.4

Regional city housing markets continued to show mixed results for the September 2011 quarter. Bendigo median house prices decreased by 11.5 per cent for the quarter having increased by 15.2 per cent for the previous quarter, giving a 12 month decrease of 16.7 per cent. Horsham decreased by 3.6 per cent for the quarter, but did not change in the previous quarter.

Large towns September June September % Change % Change Quarter Quarter Quarter Sep 2010– Jun 2011– 2010 $ 2011 $ 2011 $ 2011 Sep 2011 Bairnsdale 228,500 235,800 219,000 -4.2 -7.1 Castlemaine 290,000 327,000 346,000 19.3 5.8 Colac 227,500 207,500 214,500 -5.7 3.4 Echuca 262,500 265,000 250,500 -4.6 -5.5 Hamilton 208,000 212,500 215,000 3.4 1.2 Moe 151,500 170,000 145,000 -4.3 -14.7 Morwell 150,000 169,000 167,500 11.7 -0.9 Sale 310,000 270,000 300,000 -3.2 11.1 Swan Hill 199,000 221,000 210,000 5.5 -5.0 Traralgon 265,000 269,000 280,000 5.7 4.1 Wangaratta 250,000 253,400 220,000 -12.0 -13.2 Yarrawonga 295,000 270,000 270,000 -8.5 0.0

The sample above is the same used in the previous quarter’s report. It shows that five of the 12 large towns had increases in their median house price for the September 2011 quarter. In the previous quarter three showed increases and in the March 2011 quarter six showed increases. Page 7 Morwell had a decrease of 0.9 per cent, having increased by 8.3 per cent in the previous quarter. Yarrawonga showed no change and Traralgon had an increase of 4.1 per cent. Sale had an increase of 11.1 per cent for the September 2011 quarter, showing a change of trend from the previous quarter when it decreased by 12.9 per cent.

Seaside towns September June September % Change % Change Quarter Quarter Quarter Sep 2010– Jun 2011– 2010 $ 2011 $ 2011 $ 2011 Sep 2011 Anglesea 537,500 515,500 600,900 11.8 16.6 Barwon Heads 653,500 575,000 675,000 3.3 17.4 Cape Woolamai 365,000 364,000 327,000 -10.4 -10.2 Cowes 362,000 402,500 341,000 -5.8 -15.3 Inverloch 432,500 488,000 454,500 5.1 -6.9 Lakes 283,800 275,000 290,000 2.2 5.5 Entrance Portland 225,000 212,500 234,600 4.2 10.4 Sorrento 845,000 880,000 1,211,300 43.3 37.6 St Leonards 337,500 365,000 413,300 22.4 13.2 Torquay 546,600 567,500 564,000 3.2 -0.6 Venus Bay 262,500 277,000 277,000 5.5 0.0

The above sample shows that six of the 11 seaside towns selected had increases in their median house prices from the June to September 2011 quarters. Anglesea increased 16.6 per cent, having decreased by 25.8 per cent during the previous quarter. Cowes median house price decreased by 15.3 per cent for the September 2011 quarter, having increased by 15.7 per cent in the previous quarter. Sorrento's median house price increased by 37.6 per cent during the September 2011 quarter, having decreased by 22.8 per cent in the previous quarter.

Page 8 METROPOLITAN MELBOURNE HOUSES – Quarter change in median price (%) June Quarter 2011 to September Quarter 2011

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SANDRINGHAMSANDRINGHAMSANDRINGHAM SANDRINGHAMSANDRINGHAMSANDRINGHAM HEATHERTONHEATHERTON DANDENONGDANDENONG NORTHNORTH COCOROCCOCOROC NARRENARRE WARRENWARREN EASTEAST NOBLENOBLE PARKPARK NARRENARRE WARRENWARREN EASTEAST ENDEAVOURENDEAVOURENDEAVOUR HILLSHILLSHILLS BLACKBLACK ROCKROCK MOORABBINMOORABBIN AIRPORTAIRPORT MOUNTMOUNT BURNETTBURNETT NARRENARRE WARRENWARREN NORTHNORTH DANDENONGDANDENONG DANDENONGDANDENONG DEWHURSTDEWHURST PARKDALEPARKDALEPARKDALE HARKAWAYHARKAWAY BEACONSFIELDBEACONSFIELD UPPERUPPER KEYSBOROUGHKEYSBOROUGH HALLAMHALLAM KEYSBOROUGHKEYSBOROUGH PAKENHAMPAKENHAMPAKENHAM UPPERUPPERUPPER LARALARALARA PAKENHAMPAKENHAMPAKENHAM UPPERUPPERUPPER LARALARALARA GUYSGUYS HILLHILL ASPENDALEASPENDALE NARRENARRE WARRENWARREN DANDENONGDANDENONG SOUTHSOUTH NARNAR NARNAR GOONGOON NORTHNORTH POINTPOINTPOINT WILSON WILSONWILSON EDITHVALEEDITHVALEEDITHVALE HAMPTONHAMPTON PARKPARK BERWICKBERWICK AVALONAVALON BANGHOLMEBANGHOLME AVALONAVALON CHELSEACHELSEA OFFICEROFFICER

BONBEACHBONBEACH BONBEACHBONBEACH LYNDHURSTLYNDHURSTLYNDHURST PAKENHAMPAKENHAMPAKENHAM Change in median house price (%) CARRUMCARRUM CRANBOURNECRANBOURNE NORTHNORTH SANDHURSTSANDHURSTSANDHURST CRANBOURNECRANBOURNE NORTHNORTH 2nd quarter 2011 to 3rd quarter 2011 SANDHURSTSANDHURSTSANDHURST

CLYDECLYDE NORTHNORTH More than 15% increase SKYESKYESKYE CLYDECLYDE NORTHNORTH OFFICEROFFICER SOUTHSOUTH SEAFORDSEAFORDSEAFORD SKYESKYESKYE OFFICEROFFICER SOUTHSOUTH 10 to 15 CRANBOURNECRANBOURNE EASTEAST NARNAR NARNAR GOONGOON 5 to 10 FRANKSTONFRANKSTONFRANKSTON NORTHNORTHNORTH BELLARINEBELLARINE 0 to 5 INDENTEDINDENTEDINDENTEDINDENTED HEAD HEADHEADHEAD JUNCTIONJUNCTIONJUNCTION VILLAGEVILLAGEVILLAGE PAKENHAMPAKENHAMPAKENHAM SOUTHSOUTHSOUTH -5 to 0 CARDINIACARDINIA CLIFTONCLIFTON SPRINGSSPRINGS FRANKSTONFRANKSTONFRANKSTON CLYDECLYDE KOOKOO WEEWEE RUPRUP NORTHNORTH -10 to -5 CLIFTONCLIFTON SPRINGSSPRINGS LANGWARRINLANGWARRINLANGWARRIN NEWCOMBNEWCOMB -15 to -10 DEVONDEVON MEADOWSMEADOWS MOOLAPMOOLAP DEVONDEVON MEADOWSMEADOWS MOOLAPMOOLAP DRYSDALEDRYSDALE FRANKSTONFRANKSTONFRANKSTON SOUTHSOUTHSOUTH CURLEWISCURLEWIS DRYSDALEDRYSDALE FRANKSTONFRANKSTONFRANKSTON SOUTHSOUTHSOUTH More than 15% Decrease STSTST LEONARDS LEONARDSLEONARDS LANGWARRINLANGWARRINLANGWARRIN SOUTHSOUTHSOUTH DALMOREDALMORE Insufficient Data LANGWARRINLANGWARRINLANGWARRIN SOUTHSOUTHSOUTH KOOKOO WEEWEE RUPRUP MOUNTMOUNT ELIZAELIZA KOOKOO WEEWEE RUPRUP LEOPOLDLEOPOLDLEOPOLD MOUNTMOUNT ELIZAELIZA BAXTERBAXTER STSTST ALBANS ALBANSALBANS PARK PARKPARK LEOPOLDLEOPOLDLEOPOLD BAXTERBAXTER TOORADINTOORADINTOORADIN CANNONSCANNONS CREEKCREEK MONOMEITHMONOMEITH METROPOLITAN MELBOURNE HOUSES – Year to date change in median house price (%) September Quarter 2010 to September Quarter 2011

SMITHSSMITHSSMITHS GULLYGULLYGULLY BULLABULLA SMITHSSMITHSSMITHS GULLYGULLYGULLY GREENVALEGREENVALE SOMERTONSOMERTONSOMERTON DARLEYDARLEY EPPINGEPPINGEPPING SOUTHSOUTHSOUTH MORANG MORANGMORANG HURSTBRIDGEHURSTBRIDGE EPPINGEPPINGEPPING PANTONPANTONPANTON HILLHILLHILL MEADOWMEADOW HEIGHTSHEIGHTS YARRAYARRAYARRA GLENGLENGLEN TARRAWARRATARRAWARRATARRAWARRA MERRIMUMERRIMU CHRISTMASCHRISTMAS HILLSHILLS TARRAWARRATARRAWARRATARRAWARRA MELTONMELTON WESTWEST MILLMILL PARKPARK PLENTYPLENTYPLENTY CAMPBELLFIELDCAMPBELLFIELD LALORLALORLALOR MILLMILL PARKPARK PLENTYPLENTYPLENTY HEALESVILLEHEALESVILLE WATTLEWATTLE GLENGLEN HEALESVILLEHEALESVILLE MELTONMELTON CALDERCALDER PARKPARK MELBOURNEMELBOURNE AIRPORTAIRPORT BACCHUSBACCHUS MARSHMARSH MELTONMELTON CALDERCALDER PARKPARK BROADMEADOWSBROADMEADOWS BACCHUSBACCHUS MARSHMARSH BROADMEADOWSBROADMEADOWS THOMASTOWNTHOMASTOWNTHOMASTOWN THOMASTOWNTHOMASTOWNTHOMASTOWN YERINGYERINGYERING PLUMPTONPLUMPTONPLUMPTON BADGERBADGER CREEKCREEK SAINTSAINTSAINT HELENAHELENAHELENA KANGAROOKANGAROO GROUNDGROUND BADGERBADGER CREEKCREEK HOPETOUNHOPETOUN PARKPARK GLADSTONEGLADSTONE PARKPARK KANGAROOKANGAROO GROUNDGROUND HOPETOUNHOPETOUN PARKPARK KEILORKEILOR LODGELODGE KEILORKEILOR LODGELODGE GREENSBOROUGHGREENSBOROUGH BENDBEND OFOF ISLANDSISLANDS MADDINGLEYMADDINGLEY GLENROYGLENROY BENDBEND OFOF ISLANDSISLANDS GLENROYGLENROY RESEARCHRESEARCH COLDSTREAMCOLDSTREAM KEILORKEILOR WATSONIAWATSONIA RESERVOIRRESERVOIR WATSONIAWATSONIA TULLAMARINETULLAMARINETULLAMARINE RESERVOIRRESERVOIR ELTHAMELTHAMELTHAM TULLAMARINETULLAMARINETULLAMARINE MOUNTMOUNT TOOLEBEWONGTOOLEBEWONG ROCKBANKROCKBANK KEILORKEILOR DOWNSDOWNS MACLEODMACLEOD MOUNTMOUNT TOOLEBEWONGTOOLEBEWONG NORTHNORTH WARRANDYTEWARRANDYTE EXFORDEXFORDEXFORD STRATHMORESTRATHMORESTRATHMORE GRUYEREGRUYERE BURNSIDEBURNSIDE HEIGHTSHEIGHTS GRUYEREGRUYERE BURNSIDEBURNSIDE HEIGHTSHEIGHTS WONGAWONGA PARKPARK PARWANPARWANPARWAN KEALBAKEALBA NIDDRIENIDDRIE LOWERLOWERLOWER PLENTYPLENTYPLENTY WONGAWONGA PARKPARK PARWANPARWANPARWAN NIDDRIENIDDRIE PRESTONPRESTONPRESTON ALBANVALEALBANVALE COBURGCOBURG ALBANVALEALBANVALE ESSENDONESSENDONESSENDON ESSENDONESSENDONESSENDON HEIDELBERGHEIDELBERG WARRANDYTEWARRANDYTE CAIRNLEACAIRNLEA THORNBURYTHORNBURYTHORNBURY CAIRNLEACAIRNLEA AVONDALEAVONDALE HEIGHTSHEIGHTS WARRANDYTEWARRANDYTE SOUTHSOUTH LILYDALELILYDALELILYDALE AVONDALEAVONDALE HEIGHTSHEIGHTS BRUNSWICKBRUNSWICK WESTWEST TEMPLESTOWETEMPLESTOWETEMPLESTOWE LOWERLOWERLOWER LILYDALELILYDALELILYDALE IVANHOEIVANHOEIVANHOEIVANHOE RAVENHALLRAVENHALL NORTHCOTENORTHCOTE IVANHOEIVANHOEIVANHOEIVANHOE RAVENHALLRAVENHALL ARDEERARDEER PARKPARKPARK ORCHARDSORCHARDSORCHARDS ASCOTASCOT VALEVALE MOOROOLBARKMOOROOLBARK LAUNCHINGLAUNCHINGLAUNCHING PLACEPLACEPLACE DONCASTERDONCASTER MOOROOLBARKMOOROOLBARK SEVILLESEVILLESEVILLE EASTEASTEAST LAUNCHINGLAUNCHINGLAUNCHING PLACEPLACEPLACE CLIFTONCLIFTON HILLHILL DONVALEDONVALE MOUNTMOUNT EVELYNEVELYN EYNESBURYEYNESBURYEYNESBURY SUNSHINESUNSHINESUNSHINE CLIFTONCLIFTON HILLHILL KEWKEW EASTEAST CROYDONCROYDON EYNESBURYEYNESBURYEYNESBURY MOUNTMOUNT COTTRELLCOTTRELL CROYDONCROYDON SUNSHINESUNSHINESUNSHINE WEST WESTWEST CARLTONCARLTON SEVILLESEVILLESEVILLE SUNSHINESUNSHINESUNSHINE WEST WESTWEST FOOTSCRAYFOOTSCRAYFOOTSCRAY CARLTONCARLTON KEWKEW SEVILLESEVILLESEVILLE BLACKBURNBLACKBURN NORTHNORTH TRUGANINATRUGANINATRUGANINA TRUGANINATRUGANINATRUGANINA MELBOURNEMELBOURNE BALWYNBALWYN WANDINWANDIN EASTEAST YARRAVILLEYARRAVILLEYARRAVILLE NUNAWADINGNUNAWADING CROYDONCROYDON SOUTHSOUTH BALLIANGBALLIANG EASTEAST YARRAVILLEYARRAVILLEYARRAVILLE BOXBOX HILLHILL KALORAMAKALORAMA BALLIANGBALLIANG EASTEAST RICHMONDRICHMOND CANTERBURYCANTERBURY BOXBOX HILLHILL KALORAMAKALORAMA SOUTHSOUTHSOUTH WHARF WHARFWHARF CANTERBURYCANTERBURY BAYSWATERBAYSWATER NORTHNORTH SOUTHSOUTHSOUTH KINGSVILLE KINGSVILLEKINGSVILLE SOUTHSOUTHSOUTH KINGSVILLE KINGSVILLEKINGSVILLE SILVANSILVANSILVAN QUANDONGQUANDONG TARNEITTARNEITTARNEIT CAMBERWELLCAMBERWELL MOUNTMOUNT DANDENONGDANDENONG SILVANSILVANSILVAN QUANDONGQUANDONG TARNEITTARNEITTARNEIT ALTONAALTONA NORTHNORTH SOUTHSOUTHSOUTH YARRA YARRAYARRA CAMBERWELLCAMBERWELL MOUNTMOUNT DANDENONGDANDENONG FORESTFORESTFOREST HILLHILLHILL NEWPORTNEWPORT NEWPORTNEWPORT BURWOODBURWOOD BAYSWATERBAYSWATER MIDDLEMIDDLE PARKPARK BURWOODBURWOOD YELLINGBOYELLINGBOYELLINGBO VERMONTVERMONTVERMONT SOUTHSOUTHSOUTH OLINDAOLINDA LAVERTONLAVERTONLAVERTON ARMADALEARMADALE GLENGLEN IRISIRIS VERMONTVERMONTVERMONT SOUTHSOUTHSOUTH THETHETHE BASINBASINBASIN OLINDAOLINDA WYNDHAMWYNDHAM VALEVALE WILLIAMSTOWNWILLIAMSTOWN ARMADALEARMADALE ALTONAALTONA WILLIAMSTOWNWILLIAMSTOWN HOPPERSHOPPERS CROSSINGCROSSING ASHBURTONASHBURTON HOPPERSHOPPERS CROSSINGCROSSING BALACLAVABALACLAVA WANTIRNAWANTIRNA SOUTHSOUTH FERNYFERNYFERNY CREEKCREEKCREEK MONBULKMONBULK ALTONAALTONA MEADOWSMEADOWS ELWOODELWOODELWOOD ELWOODELWOODELWOOD CAULFIELDCAULFIELD CHADSTONECHADSTONE GLENGLEN WAVERLEYWAVERLEY MACCLESFIELDMACCLESFIELD CAULFIELDCAULFIELD FERNTREEFERNTREEFERNTREE GULLYGULLYGULLY THETHETHE PATCHPATCHPATCH GARDENVALEGARDENVALE HUGHESDALEHUGHESDALE MAMBOURINMAMBOURIN GARDENVALEGARDENVALE HUGHESDALEHUGHESDALE UPPERUPPER FERNTREEFERNTREE GULLYGULLY MAMBOURINMAMBOURIN KALLISTAKALLISTA POINTPOINTPOINT COOK COOKCOOK WHEELERSWHEELERS HILLHILL WERRIBEEWERRIBEE BRIGHTONBRIGHTON MCKINNONMCKINNON WHEELERSWHEELERS HILLHILL MCKINNONMCKINNON BELGRAVEBELGRAVE CLAYTONCLAYTON BELGRAVEBELGRAVE AVONSLEIGHAVONSLEIGH BENTLEIGHBENTLEIGH EASTEAST MENZIESMENZIES CREEKCREEK BENTLEIGHBENTLEIGH EASTEAST MULGRAVEMULGRAVE ROWVILLEROWVILLE MULGRAVEMULGRAVE ROWVILLEROWVILLE COCKATOOCOCKATOO EMERALDEMERALDEMERALD WERRIBEEWERRIBEE SOUTHSOUTH LYSTERFIELDLYSTERFIELDLYSTERFIELD EMERALDEMERALDEMERALD LITTLELITTLELITTLE RIVER RIVERRIVER WERRIBEEWERRIBEE SOUTHSOUTH HAMPTONHAMPTON MOORABBINMOORABBIN CLARINDACLARINDA MOORABBINMOORABBIN CLARINDACLARINDA SPRINGVALESPRINGVALESPRINGVALE SANDRINGHAMSANDRINGHAMSANDRINGHAM SANDRINGHAMSANDRINGHAMSANDRINGHAM HEATHERTONHEATHERTON DANDENONGDANDENONG NORTHNORTH COCOROCCOCOROC NARRENARRE WARRENWARREN EASTEAST NOBLENOBLE PARKPARK NARRENARRE WARRENWARREN EASTEAST ENDEAVOURENDEAVOURENDEAVOUR HILLSHILLSHILLS BLACKBLACK ROCKROCK MOORABBINMOORABBIN AIRPORTAIRPORT MOUNTMOUNT BURNETTBURNETT NARRENARRE WARRENWARREN NORTHNORTH DANDENONGDANDENONG DANDENONGDANDENONG DEWHURSTDEWHURST PARKDALEPARKDALEPARKDALE HARKAWAYHARKAWAY BEACONSFIELDBEACONSFIELD UPPERUPPER KEYSBOROUGHKEYSBOROUGH HALLAMHALLAM KEYSBOROUGHKEYSBOROUGH PAKENHAMPAKENHAMPAKENHAM UPPERUPPERUPPER LARALARALARA PAKENHAMPAKENHAMPAKENHAM UPPERUPPERUPPER LARALARALARA GUYSGUYS HILLHILL NARRENARRE WARRENWARREN ASPENDALEASPENDALE NARRENARRE WARRENWARREN DANDENONGDANDENONG SOUTHSOUTH NARNAR NARNAR GOONGOON NORTHNORTH POINTPOINTPOINT WILSON WILSONWILSON DANDENONGDANDENONG SOUTHSOUTH NARNAR NARNAR GOONGOON NORTHNORTH POINTPOINTPOINT WILSON WILSONWILSON EDITHVALEEDITHVALEEDITHVALE EDITHVALEEDITHVALEEDITHVALE BEACONSFIELDBEACONSFIELD HAMPTONHAMPTON PARKPARK BEACONSFIELDBEACONSFIELD AVALONAVALON BANGHOLMEBANGHOLME AVALONAVALON CHELSEACHELSEA BANGHOLMEBANGHOLME OFFICEROFFICER

BONBEACHBONBEACH BONBEACHBONBEACH LYNDHURSTLYNDHURSTLYNDHURST Change in median house price (%) PAKENHAMPAKENHAMPAKENHAM CARRUMCARRUM CRANBOURNECRANBOURNE NORTHNORTH 3rd quarter 2010 to 3rd quarter 2011 SANDHURSTSANDHURSTSANDHURST

More than 15% increase CLYDECLYDE NORTHNORTH SKYESKYESKYE OFFICEROFFICER SOUTHSOUTH 10 to 15 SEAFORDSEAFORDSEAFORD SKYESKYESKYE OFFICEROFFICER SOUTHSOUTH CRANBOURNECRANBOURNE EASTEAST NARNAR NARNAR GOONGOON 5 to 10 FRANKSTONFRANKSTONFRANKSTON NORTHNORTHNORTH 0 to 5 BELLARINEBELLARINE INDENTEDINDENTEDINDENTEDINDENTED HEAD HEADHEADHEAD JUNCTIONJUNCTIONJUNCTION VILLAGEVILLAGEVILLAGE PAKENHAMPAKENHAMPAKENHAM SOUTHSOUTHSOUTH -5 to 0 CARDINIACARDINIA CLIFTONCLIFTON SPRINGSSPRINGS FRANKSTONFRANKSTONFRANKSTON CLYDECLYDE KOOKOO WEEWEE RUPRUP NORTHNORTH -10 to -5 CLIFTONCLIFTON SPRINGSSPRINGS LANGWARRINLANGWARRINLANGWARRIN NEWCOMBNEWCOMB -15 to -10 DEVONDEVON MEADOWSMEADOWS MOOLAPMOOLAP DEVONDEVON MEADOWSMEADOWS MOOLAPMOOLAP More than 15% decrease DRYSDALEDRYSDALE FRANKSTONFRANKSTONFRANKSTON SOUTHSOUTHSOUTH CURLEWISCURLEWIS DRYSDALEDRYSDALE FRANKSTONFRANKSTONFRANKSTON SOUTHSOUTHSOUTH STSTST LEONARDS LEONARDSLEONARDS Insufficient Data LANGWARRINLANGWARRINLANGWARRIN SOUTHSOUTHSOUTH DALMOREDALMORE LANGWARRINLANGWARRINLANGWARRIN SOUTHSOUTHSOUTH KOOKOO WEEWEE RUPRUP MOUNTMOUNT ELIZAELIZA KOOKOO WEEWEE RUPRUP LEOPOLDLEOPOLDLEOPOLD MOUNTMOUNT ELIZAELIZA BAXTERBAXTER PEARCEDALEPEARCEDALEPEARCEDALE STSTST ALBANS ALBANSALBANS PARK PARKPARK LEOPOLDLEOPOLDLEOPOLD BAXTERBAXTER PEARCEDALEPEARCEDALEPEARCEDALE TOORADINTOORADINTOORADIN CANNONSCANNONS CREEKCREEK VICTORIA R E S I D E N T I A L P R I C E S T A T I S T I C S Apr-Jun 2010 to Jul-Sep 2011

$440,000

$400,000

$360,000

$320,000

$280,000

$240,000

$200,000

$160,000 Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep 2010 2010 2010 2011 2011 2011

House Median Unit/Apartment Median Vacant House Block Median

Houses Units/Apartments Vacant House Blocks Qtr No. of Median Change No. of Median Change No. of Median Change Sales Price (%) Sales Price (%) Sales Price (%)

Apr-Jun 2010 21,388 425,000 0.0 9,447 415,000 0.0 8,467 168,000 0.0

Jul-Sep 2010 18,816 418,000 -1.6 8,132 400,000 -3.6 7,334 174,000 3.6

Oct-Dec 2010 18,650 440,000 5.3 7,098 415,000 3.8 5,526 182,000 4.6

Jan-Mar 2011 17,814 417,000 -5.2 6,538 400,000 -3.6 5,017 178,100 -2.2

Apr-Jun 2011 17,964 426,000 2.2 6,587 409,600 2.4 4,161 173,300 -2.7

Jul-Sep 2011 15,517 410,000 -3.8 5,810 400,000 -2.3 3,180 175,000 1.0

Page 11 MELBOURNE METROPOLI TAN AREA R E S I D E N T I A L P R I C E S T A T I S T I C S Apr-Jun 2010 to Jul-Sep 2011

$550,000

$500,000

$450,000

$400,000

$350,000

$300,000

$250,000

$200,000

$150,000 Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep 2010 2010 2010 2011 2011 2011

House Median Unit/Apartment Median Vacant House Block Median

Houses Units/Apartments Vacant House Blocks Qtr No. of Median Change No. of Median Change No. of Median Change Sales Price (%) Sales Price (%) Sales Price (%)

Apr-Jun 2010 15,441 500,000 0.0 8,262 439,000 0.0 5,526 185,000 0.0

Jul-Sep 2010 13,276 490,000 -2.0 7,091 426,000 -3.0 4,621 195,000 5.4

Oct-Dec 2010 13,203 522,500 6.6 6,212 440,000 3.3 3,323 210,000 7.7

Jan-Mar 2011 12,313 485,000 -7.2 5,665 420,000 -4.5 2,844 210,000 0.0

Apr-Jun 2011 12,653 500,500 3.2 5,765 430,000 2.4 2,214 214,000 1.9

Jul-Sep 2011 10,915 480,000 -4.1 5,062 420,900 -2.1 1,702 209,300 -2.2

Page 12 COUNTRY VI CTORI A R E S I D E N T I A L P R I C E S T A T I S T I C S Apr-Jun 2010 to Jul-Sep 2011

$300,000

$280,000

$260,000

$240,000

$220,000

$200,000

$180,000

$160,000

$140,000

$120,000

$100,000 Apr-Jun Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep 2010 2010 2010 2011 2011 2011

House Median Unit/Apartment Median Vacant House Block Median

Houses Units/Apartments Vacant House Blocks Qtr No. of Median Change No. of Median Change No. of Median Change Sales Price (%) Sales Price (%) Sales Price (%)

Apr-Jun 2010 5,947 270,000 0.0 1,185 230,000 0.0 2,941 121,000 0.0

Jul-Sep 2010 5,540 270,000 0.0 1,041 238,000 3.5 2,713 119,000 -1.7

Oct-Dec 2010 5,447 280,000 3.7 886 248,000 4.2 2,203 124,000 4.2

Jan-Mar 2011 5,501 281,500 0.5 873 239,000 -3.6 2,173 129,000 4.0

Apr-Jun 2011 5,311 280,000 -0.5 822 240,000 0.4 1,947 120,000 -7.0

Jul-Sep 2011 4,602 275,000 -1.8 748 228,500 -4.8 1,478 125,000 4.2

Page 13 MEDIAN HOUSE PRICES Jul-Sep 2010 to Jul-Sep 2011

Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep No. of No. of Change (%) Locality 2010 2010 2011 2011 2011 Sales Sales Jul-Sep Apr-Jun 2010 2011 Jul-Sep YTD to to Jul-Sep Jul-Sep 2011 2011 2011 2011

ABBOTSFORD 715000 709000 740000 749500 651000 17 56 -9.0 -13.1 ABERFELDIE 1072500 ^ 1047500 1066800^ 960000 812500^ 5 24 -24.2 -15.4 AIREYS INLET 542000 ^ 350000^ 655000 665000^ 642500^ 2 17 18.5 -3.4 AIRPORT WEST 595000 586000 542500 580000 538800 18 83 -9.5 -7.1 ALBANVALE 322000 320000 321000 319000 317000 12 44 -1.6 -0.6 ALBERT PARK 1096000 1110500 1151000 1385000 1644000 26 93 50.0 18.7 ALBION 440000 435000 407500^ 390000 427500^ 6 27 -2.8 9.6 ALEXANDRA 280000 ^ 257500 256300 258000 262800^ 8 35 -6.2 1.8 ALFREDTON 351000 309000 321000 327500 341500 32 133 -2.7 4.3 ALLANSFORD 240000 ^ 240000* 327500^ 419500^ 150000^ 1 5 -37.5 -64.2 ALPHINGTON 1105000 ^ 1057000 1170000 900000 835000 14 36 -24.4 -7.2 ALTONA 633500 681300 643500 567500 536000 28 78 -15.4 -5.6 ALTONA EAST 644000 ^ 567000^ 527500^ 560000^ 548800^ 4 9 -14.8 -2.0 ALTONA MEADOWS 397000 403100 405000 410000 390000 47 165 -1.8 -4.9 ALTONA NORTH 532500 551500 520100 530000 500000 27 82 -6.1 -5.7 ANGLESEA 537500 692500 695000 515500 600900 27 62 11.8 16.6 APOLLO BAY 467500 422100 565000 455000 455000^ 5 28 -2.7 0.0 ARARAT 183300 174000 168000 170000 165000 34 102 -10.0 -2.9 ARDEER 390000 385000^ 373000^ 377500 352500 11 33 -9.6 -6.6 ARMADALE 1331000 1900000 1780000 1680000 1541000 24 65 15.8 -8.3 ARTHURS SEAT 525000 ^ 515000^ 530000^ 530000* 530000* 0 3 NA NA ASCOT (Bendigo) 325500 ^ 345000^ 325000^ 315000^ 322000^ 5 15 -1.1 2.2 ASCOT VALE 762300 792500 750900 739000 710000 37 124 -6.9 -3.9 ASHBURTON 1005000 955100 990000 866000 910000 21 58 -9.5 5.1 ASHWOOD 702500 790500 720000 760800 740000 15 56 5.3 -2.7 ASPENDALE 630000 642400 647500 620000 611500 13 53 -2.9 -1.4 ASPENDALE GARDENS 587500 580000 568000 542800 545500 18 57 -7.1 0.5 ATTWOOD 618500 ^ 616300^ 649800^ 532500^ 461800^ 8 24 -25.3 -13.3 AVENEL 300000 ^ 253500^ 217800^ 270000^ 270000* 0 7 NA NA AVOCA 150000 173100^ 151300^ 140000^ 190000^ 5 14 26.7 35.7 AVONDALE HEIGHTS 620000 577500 551300 565000 505500 25 89 -18.5 -10.5 AVONSLEIGH 373000 ^ 312500^ 312500* 365000^ 332500^ 2 3 -10.9 -8.9 BACCHUS MARSH 300000 318000 305000 350000 345000 18 87 15.0 -1.4 BADGER CREEK 303500 ^ 296000^ 305000^ 292500^ 287000^ 5 18 -5.4 -1.9 BAIRNSDALE 228500 240500 240000 235800 219000 31 115 -4.2 -7.1 BALACLAVA 927500 882000 794500 820000 792000 15 41 -14.6 -3.4 BALLAN 260000 ^ 287000^ 277800^ 275000 320000^ 9 32 23.1 16.4 BALLARAT CENTRAL 280000 295000 323800 300000 320000 42 145 14.3 6.7 BALLARAT EAST 240000 237500 229500 263000 243500 32 99 1.5 -7.4 BALLARAT NORTH 264500 292500 282500 285000 275000 15 61 4.0 -3.5 BALNARRING 442500 ^ 501000 467500 500000^ 486800^ 4 26 10.0 -2.7 BALNARRING BEACH 905000 ^ 726500^ 580000^ 595000^ 675000^ 3 9 -25.4 13.4 BALWYN 1465000 1359500 1480000 1250000 1399000 18 94 -4.5 11.9

^ means there are less than 10 sales for the quarter * means there were no sales for the quarter and the first non-zero figure is carried forward NA means insufficent data was available to create the percentage change Page 14 MEDIAN HOUSE PRICES Jul-Sep 2010 to Jul-Sep 2011

Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep No. of No. of Change (%) Locality 2010 2010 2011 2011 2011 Sales Sales Jul-Sep Apr-Jun 2010 2011 Jul-Sep YTD to to Jul-Sep Jul-Sep 2011 2011 2011 2011

BALWYN NORTH 1131500 1150000 1100000 1100000 1100000 63 177 -2.8 0.0 BANNOCKBURN 321500 ^ 345000 351000^ 389000^ 358000^ 7 21 11.4 -8.0 BARANDUDA 368500 ^ 296500^ 295000^ 335000^ 345000^ 4 11 -6.4 3.0 BARWON HEADS 653500 617500 622000 575000 675000 17 68 3.3 17.4 BAXTER 310000 ^ 328500 322000^ 322500 312500^ 8 28 0.8 -3.1 BAYSWATER 435300 435000 470000 470000 430000 34 96 -1.2 -8.5 BAYSWATER NORTH 450500 435000 438000 470000 410800 20 74 -8.8 -12.6 BEACONSFIELD 455000 457500 470000 525000 475000 20 72 4.4 -9.5 BEACONSFIELD UPPER 474800 ^ 622000^ 540000^ 417500^ 499000^ 2 9 5.1 19.5 BEAUFORT 185000 ^ 160000^ 140000^ 157500^ 150000^ 5 12 -18.9 -4.8 BEAUMARIS 1105000 1110000 1180000 1025000 1000000 33 121 -9.5 -2.4 BEECHWORTH 288000 332000^ 388000 355000^ 335000 13 30 16.3 -5.6 BELGRAVE 420000 380000 400000 349500 375000 17 51 -10.7 7.3 BELGRAVE HEIGHTS 467500 ^ 405000^ 437000^ 370500^ 364000^ 3 9 -22.1 -1.8 BELGRAVE SOUTH 456300 ^ 565000^ 650000^ 583000^ 445000^ 3 8 -2.5 -23.7 BELL PARK 285000 300000 288600 321000 304000 25 68 6.7 -5.3 BELL POST HILL 300000 312000 302000 326000 331000 16 57 10.3 1.5 BELLFIELD (Greater Melbourne) 571300 565000 571000^ 575000^ 550000^ 4 14 -3.7 -4.3 BELMONT 352500 330000 355000 341000 342000 49 191 -3.0 0.3 BENALLA 213000 207400 222000 202000 226000 22 86 6.1 11.9 BENDIGO 324000 311000 262500 305000 270000 37 109 -16.7 -11.5 BENTLEIGH 825000 878000 885000 854000 885000 33 123 7.3 3.6 BENTLEIGH EAST 792000 762000 717500 740000 705000 69 235 -11.0 -4.7 BERWICK 455000 455000 440000 445000 438500 199 600 -3.6 -1.5 BIRREGURRA 250000 ^ 222000^ 225000^ 283000^ 330000^ 3 8 32.0 16.6 BITTERN 330000 365000 370000^ 410000^ 360000 12 27 9.1 -12.2 BLACK HILL 287000 268800 289500 306300 292000 19 47 1.7 -4.7 BLACK ROCK 1276300 1255000 1270000 1290000 1290000 12 53 1.1 0.0 BLACKBURN 821500 902000 900000 805000 701500 34 120 -14.6 -12.9 BLACKBURN NORTH 676500 600000 677500 618000 616000 14 49 -8.9 -0.3 BLACKBURN SOUTH 670000 666000 650000 647500 636500 32 89 -5.0 -1.7 BLAIRGOWRIE 652500 710000 661000 576300 497500 26 95 -23.8 -13.7 BLIND BIGHT 350300 ^ 355000^ 355000 365000^ 380000^ 5 25 8.5 4.1 BONBEACH 576200 571000 581300 547000 532500 18 57 -7.6 -2.7 BONNIE DOON 220500 ^ 240000^ 183000^ 188000^ 225000^ 3 11 2.0 19.7 BOOLARRA 232000 ^ 140000^ 184000^ 235000^ 217500^ 6 11 -6.3 -7.4 BORONIA 470000 450000 425000 450000 450000 55 215 -4.3 0.0 BOTANIC RIDGE 485000 ^ 581500^ 450000^ 475000 555000^ 5 23 14.4 16.8 BOX HILL 849000 878000 985000 920000 755000 14 49 -11.1 -17.9 BOX HILL NORTH 726000 710000 691000 700000 660000 33 100 -9.1 -5.7 BOX HILL SOUTH 868500 765000 757000 763000 693000 16 59 -20.2 -9.2 BRAYBROOK 450000 490000 455500 465000 446500 14 63 -0.8 -4.0 BREAKWATER 265000 250000^ 255000^ 267000^ 235000^ 2 9 -11.3 -12.0

Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep No. of No. of Change (%) Locality 2010 2010 2011 2011 2011 Sales Sales Jul-Sep Apr-Jun 2010 2011 Jul-Sep YTD to to Jul-Sep Jul-Sep 2011 2011 2011 2011

BRIAGOLONG 167000 ^ 187500^ 250000^ 299000^ 116000^ 1 7 -30.5 -61.2 BRIAR HILL 628000 595000 534300^ 552500^ 580000^ 8 24 -7.6 5.0 BRIGHT 302500 330000 323800 277500 373000^ 6 26 23.3 34.4 BRIGHTON 1675000 1737500 1460000 1875000 1590000 47 176 -5.1 -15.2 BRIGHTON EAST 1259300 1157500 1150000 1100000 1200000 43 129 -4.7 9.1 BROADFORD 220000 300000 255000 230500 262500 14 44 19.3 13.9 BROADMEADOWS 378500 367800 379500 358000 340000 27 97 -10.2 -5.0 BROOKFIELD 345000 351800 348000 348200 335000 22 83 -2.9 -3.8 BROOKLYN 485000 ^ 463500^ 455000^ 496000^ 492500^ 8 17 1.5 -0.7 BROWN HILL 254500 275000 258500 342500 224000 14 42 -12.0 -34.6 BRUNSWICK 715000 699500 670000 677500 658300 54 182 -7.9 -2.8 BRUNSWICK EAST 672500 670000 695000 685000 755000 15 59 12.3 10.2 BRUNSWICK WEST 710000 697500 700000 741500 703000 25 78 -1.0 -5.2 BULLEEN 712500 722500 713800 732500 743000 26 80 4.3 1.4 BUNDALONG 350000 * 342500^ 440000^ 745500^ 875000^ 2 9 NA 17.4 BUNDOORA 500000 504500 514900 465000 480000 60 193 -4.0 3.2 BUNINYONG 275000 345000 274000 302500 312500^ 6 34 13.6 3.3 BUNYIP 295000 ^ 272500^ 357500^ 350500^ 354000^ 2 10 20.0 1.0 BURNLEY 840250 * 795500^ 810000^ 810000* 810000^ 7 10 NA NA BURNSIDE 407500 395000 445000^ 405000 410000 10 30 0.6 1.2 BURNSIDE HEIGHTS 412000 415000 418700 439500 395000 25 77 -4.1 -10.1 BURWOOD 781500 760000 750100 799500 794000 30 107 1.6 -0.7 BURWOOD EAST 678000 652500 650000 630000 630000 25 84 -7.1 0.0 CAIRNLEA 445000 497500 500000 534000 445000 17 67 0.0 -16.7 CALIFORNIA GULLY 210000 206300 216000 247000 242500 12 50 15.5 -1.8 CAMBERWELL 1290000 1340000 1400000 1243800 1242500 48 169 -3.7 -0.1 CAMPBELLFIELD 400000 377500^ 432500^ 327500^ 360000^ 7 23 -10.0 9.9 CAMPBELLS CREEK 303500 ^ 380000^ 361300^ 396000^ 357500^ 5 17 17.8 -9.7 CAMPERDOWN 176000 201500 137000^ 180000 225500 12 38 28.1 25.3 CANADIAN 248000 340000 311000 299300 311000 11 51 25.4 3.9 CANNONS CREEK 270000 ^ 292000^ 264000^ 283500^ 282500^ 4 12 4.6 -0.4 CANTERBURY 1855000 1500000 1830000 1692500 2152500 24 81 16.0 27.2 CAPE PATERSON 342000 ^ 352500^ 372500 421000^ 318500^ 2 22 -6.9 -24.3 CAPE WOOLAMAI 365000 308000 335000 364000 327000 10 40 -10.4 -10.2 CARISBROOK 205700 ^ 181500^ 135000^ 135000* 135000* 0 3 NA NA CARLTON 972500 900000 1027500^ 1050000 870000 12 31 -10.5 -17.1 CARLTON NORTH 867500 931500 895000 830000 818500 14 52 -5.6 -1.4 CARNEGIE 817500 858000 897000 921800 890000 19 71 8.9 -3.4 CAROLINE SPRINGS 415000 420000 415000 410000 415000 89 287 0.0 1.2 CARRUM 475000 544500 582500 504300 430300 13 37 -9.4 -14.7 CARRUM DOWNS 332000 337000 350000 345500 340000 67 252 2.4 -1.6 CASTERTON 67500 ^ 122500^ 90000^ 95000^ 149000^ 2 13 120.7 56.8 CASTLEMAINE 290000 305000 317500 327000 346000 20 90 19.3 5.8

Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep No. of No. of Change (%) Locality 2010 2010 2011 2011 2011 Sales Sales Jul-Sep Apr-Jun 2010 2011 Jul-Sep YTD to to Jul-Sep Jul-Sep 2011 2011 2011 2011

CAULFIELD 1260000 1055000^ 1010000^ 967500 1012500^ 8 28 -19.6 4.7 CAULFIELD EAST 815000 ^ 1000000^ 1075000^ 760000^ 760000* 0 6 NA NA CAULFIELD NORTH 1358800 1415000 1160000 1500000 1250000 26 74 -8.0 -16.7 CAULFIELD SOUTH 1035000 1032500 1009800 905000 875000 28 69 -15.5 -3.3 CHADSTONE 653500 661000 760000 620000 590500 12 48 -9.6 -4.8 CHARLTON 100000 ^ 105000^ 160000^ 124000^ 117000^ 7 17 17.0 -5.6 CHELSEA 600000 525000 486000 595000 517500 20 52 -13.8 -13.0 CHELSEA HEIGHTS 460000 462800 454000 477500 430000 15 59 -6.5 -9.9 CHELTENHAM 676000 672500 670000 620000 604000 42 130 -10.7 -2.6 CHELTENHAM EAST 600000 ^ 627600^ 625800^ 602000 620000^ 9 32 3.3 3.0 CHELTENHAM NORTH 650000 ^ 775000^ 583800^ 579000^ 545000^ 4 15 -16.2 -5.9 CHEWTON 401500 ^ 200000^ 254500^ 277500^ 298300^ 2 6 -25.7 7.5 CHILTERN 180000 ^ 247000^ 202000^ 135000^ 190000^ 6 16 5.6 40.7 CHIRNSIDE PARK 449800 453700 487500 444000 485000 36 108 7.8 9.2 CHUM CREEK 320000 ^ 421100^ 365000^ 474000^ 185000^ 1 5 -42.2 -61.0 CHURCHILL 147000 174300 180000 150000 186000 20 56 26.5 24.0 CLARINDA 607500 ^ 530000 529300 550000 545100 10 37 -10.3 -0.9 CLAYTON 690000 625000 630000 576000 587500 16 70 -14.9 2.0 CLAYTON NORTH 780000 ^ 760000^ 738000^ 758000^ 512500^ 4 17 -34.3 -32.4 CLAYTON SOUTH 515000 545000 540000 502500 500000 23 70 -2.9 -0.5 CLIFTON HILL 766000 750000 776000 831000 757500 13 46 -1.1 -8.8 CLIFTON SPRINGS 307000 335000 355000 325000 329000 36 129 7.2 1.2 CLUNES 170000 ^ 210000^ 199000^ 185000^ 238000^ 2 15 40.0 28.6 CLYDE NORTH 195000 ^ 258000^ 264000^ 264000^ 310500^ 6 16 59.2 17.6 COBDEN 242500 ^ 126000^ 195000^ 220000^ 201300^ 4 16 -17.0 -8.5 COBRAM 235000 215000 170000 247500 207500 16 46 -11.7 -16.2 COBURG 640000 619500 606300 619500 608800 74 226 -4.9 -1.7 COBURG NORTH 540000 484500 540000 516000 532500 18 56 -1.4 3.2 COCKATOO 310000 341000 355000 300000 318300 18 62 2.7 6.1 COHUNA 137000 ^ 162500^ 176000^ 110000^ 166000^ 9 22 21.2 50.9 COLAC 227500 220000 215000 207500 214500 40 104 -5.7 3.4 COLDSTREAM 395000 427500^ 380000 390000^ 366300^ 6 26 -7.3 -6.1 COLERAINE 95000 ^ 74000^ 115000^ 115000^ 96000^ 5 13 1.1 -16.5 COLLINGWOOD 751000 759000 740000^ 736800 615500^ 8 25 -18.0 -16.5 COOLAROO 320000 ^ 315000 307500 310000^ 303000^ 9 28 -5.3 -2.3 CORINELLA 390000 ^ 370000^ 282500^ 420000^ 242000^ 3 11 -37.9 -42.4 CORIO 225000 240000 232500 225000 220000 60 183 -2.2 -2.2 CORONET BAY 258500 262500 252000 237000^ 262500^ 4 24 1.5 10.8 CORRYONG 180000 ^ 103000^ 148000^ 160000^ 145000^ 8 20 -19.4 -9.4 COWES 362000 332500 346500 402500 341000 24 126 -5.8 -15.3 CRAIGIEBURN 372000 380000 380000 360000 359000 148 453 -3.5 -0.3 CRANBOURNE 329000 339300 330000 330000 320000 92 273 -2.7 -3.0 CRANBOURNE EAST 369000 345000 373000 370000 370000 33 127 0.3 0.0

Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep No. of No. of Change (%) Locality 2010 2010 2011 2011 2011 Sales Sales Jul-Sep Apr-Jun 2010 2011 Jul-Sep YTD to to Jul-Sep Jul-Sep 2011 2011 2011 2011

CRANBOURNE NORTH 352000 356500 344500 356000 350000 63 202 -0.6 -1.7 CRANBOURNE WEST 310000 318300 320000 315800 315300 48 145 1.7 -0.2 CREMORNE 862500 814000^ 730000^ 825000 805000^ 7 35 -6.7 -2.4 CRESWICK 201500 237000 220600 232500 210000 13 44 4.2 -9.7 CRIB POINT 365000 330000 315000 344000 312500 10 39 -14.4 -9.2 CROYDON 478000 460000 470000 468000 457500 70 230 -4.3 -2.2 CROYDON HILLS 570000 572000 521000 537000 529900 18 46 -7.0 -1.3 CROYDON NORTH 549300 480000 525000 510000 483000 17 69 -12.1 -5.3 CROYDON SOUTH 488200 437500 452500 410500 442000 16 49 -9.5 7.7 DALLAS 309000 330000 316300 330000 282500 10 51 -8.6 -14.4 DALYSTON 224500 ^ 390000^ 246500^ 245000^ 300000^ 1 9 33.6 22.4 DANDENONG 420000 440000 401000 405000 392000 46 154 -6.7 -3.2 DANDENONG NORTH 395000 410500 395000 408000 404000 54 165 2.3 -1.0 DARLEY 326500 339500 321800 358000 307000 33 90 -6.0 -14.2 DAYLESFORD 332500 365000 345000 342500 280000^ 9 55 -15.8 -18.2 DEEPDENE 1930000 ^ 2020000^ 1900000^ 3025000^ 1980000^ 7 16 2.6 -34.5 DEER PARK 355000 372500 368000 355000 355000 57 177 0.0 0.0 DELACOMBE 275000 312500 272600 292000 299800 32 82 9.0 2.7 DELAHEY 377000 385000 355000 385000 372500 14 56 -1.2 -3.2 DENNINGTON 343000 ^ 310000^ 347000^ 386000^ 315000^ 3 18 -8.2 -18.4 DERRIMUT 405000 397500 430000 430000 400000 23 75 -1.2 -7.0 DIAMOND CREEK 585000 535000 513500 528800 528000 33 114 -9.7 -0.1 DIGGERS REST 304500 ^ 286500^ 286000^ 275000 276500^ 6 23 -9.2 0.5 DIMBOOLA 82000 68000^ 116300^ 105000^ 78500^ 6 13 -4.3 -25.2 DINGLEY VILLAGE 580000 591000 539000 550000 540000 25 80 -6.9 -1.8 DINNER PLAIN 400000 ^ 825000^ 537500^ 450000^ 376000^ 6 14 -6.0 -16.4 DONALD 172300 ^ 85000 170000 146500 154000^ 3 23 -10.6 5.1 DONCASTER 790000 769000 800000 816500 737500 42 160 -6.6 -9.7 DONCASTER EAST 750000 732000 723800 695000 731000 60 160 -2.5 5.2 DONVALE 707500 731500 789600 725900 658800 18 62 -6.9 -9.2 DOREEN 432500 478000 440000 488300 447500 56 190 3.5 -8.4 DOVETON 331000 333300 330000 322000 317200 29 109 -4.2 -1.5 DROMANA 445000 444500 445000 440000 467500 22 95 5.1 6.3 DROUIN 271000 295000 270500 290000 287600 44 158 6.1 -0.8 DRYSDALE 410500 392300 458000 394000 370000 18 57 -9.9 -6.1 DUNOLLY 132000 ^ 136000^ 146000^ 135000^ 242500^ 2 11 83.7 79.6 EAGLE POINT 220000 ^ 236000^ 280000^ 289000^ 253500^ 6 13 15.2 -12.3 EAGLEHAWK 236800 235000 236000 252500 223000 23 82 -5.8 -11.7 EAGLEMONT 1380000 1237500 1525000^ 1510500^ 1620000^ 4 17 17.4 7.2 EAST BAIRNSDALE 114000 ^ 255000^ 207500^ 153800^ 176500^ 4 12 54.8 14.8 EAST BENDIGO 193800 ^ 293500^ 263000^ 239800 280000^ 8 27 44.5 16.8 EAST GEELONG 420000 449000 390000 430000 363500 24 55 -13.5 -15.5 EAST MELBOURNE 1840000 ^ 1983500^ 1983500* 1527000^ 1075000^ 3 5 -41.6 -29.6

Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep No. of No. of Change (%) Locality 2010 2010 2011 2011 2011 Sales Sales Jul-Sep Apr-Jun 2010 2011 Jul-Sep YTD to to Jul-Sep Jul-Sep 2011 2011 2011 2011

EAST WARBURTON 332500 ^ 275000^ 340000^ 255000^ 312500^ 8 12 -6.0 22.5 EASTWOOD 322300 378500^ 332500 334500 331300 10 30 2.8 -1.0 ECHUCA 262500 268500 278000 265000 250500 42 137 -4.6 -5.5 EDENHOPE 85000 ^ 151800^ 100000^ 110000^ 80000^ 4 9 -5.9 -27.3 EDITHVALE 635000 598000 590000 560000 655000 12 56 3.1 17.0 EILDON 193300 ^ 220000^ 197000^ 192500^ 154500^ 6 17 -20.1 -19.7 ELMORE 192000 ^ 335000^ 194000^ 157500^ 188000^ 5 15 -2.1 19.4 ELSTERNWICK 1165000 1332500 1342500 1196300 1030000 14 50 -11.6 -13.9 ELTHAM 605000 631000 621000 607500 630000 46 171 4.1 3.7 ELTHAM NORTH 619500 587500 622500 580000 660500 22 59 6.6 13.9 ELWOOD 1198000 1237500 1320000 1162500 1038000 25 83 -13.4 -10.7 EMERALD 430300 465000 432500 413000 401800 15 58 -6.6 -2.7 ENDEAVOUR HILLS 401000 424000 409300 400000 400000 69 202 -0.2 0.0 EPPING 378800 385000 390000 399500 381000 92 285 0.6 -4.6 EPSOM 272000 ^ 292500^ 332500 293000 281000 15 51 3.3 -4.1 ESSENDON 944000 1030000 825000 960000 885000 31 120 -6.3 -7.8 ESSENDON NORTH 870300 ^ 795600 1160000^ 720000^ 712500^ 4 17 -18.1 -1.0 ESSENDON WEST 641000 ^ 795000^ 765000^ 750000^ 650000^ 5 18 1.4 -13.3 EUMEMMERRING 330000 ^ 380000^ 368500^ 365300^ 356000^ 2 8 7.9 -2.5 EUREKA 250400 ^ 255000^ 290000^ 251300^ 240000^ 2 14 -4.2 -4.5 EUROA 163500 165300 166500 245000 178000 10 38 8.9 -27.3 EYNESBURY 438500 ^ 204500^ 334400^ 290000^ 460000^ 5 10 4.9 58.6 FAIRFIELD 887500 ^ 871500 851900 800000 787500 15 44 -11.3 -1.6 FAIRHAVEN 1107500 ^ 947500^ 1117500^ 695000^ 1175000^ 2 6 6.1 69.1 FAWKNER 479600 455000 450500 445000 431500 27 76 -10.0 -3.0 FERNTREE GULLY 447000 450000 431500 435000 420000 79 274 -6.0 -3.4 FERNY CREEK 580000 ^ 615000^ 548500^ 470000^ 567500^ 4 17 -2.2 20.7 FINGAL 506500 ^ 515000^ 530000^ 724500^ 724500* 0 7 NA NA FITZROY 820000 853500 1000000 860000 805300 18 60 -1.8 -6.4 FITZROY NORTH 890000 895000 867500 852500 800000 30 100 -10.1 -6.2 FLEMINGTON 621500 662500 657500 670500 655000 17 47 5.4 -2.3 FLINDERS 950000 ^ 1080000^ 853500 960000^ 670000^ 3 20 -29.5 -30.2 FLORA HILL 280000 272500 285000 278000 269000 21 66 -3.9 -3.2 FOOTSCRAY 565000 540500 605000 525000 533500 32 84 -5.6 1.6 FOREST HILL 603000 620000 591000 562500 550000 33 81 -8.8 -2.2 FOSTER 243500 ^ 317500^ 240000^ 288000^ 261000^ 6 19 7.2 -9.4 FRANKSTON 374500 360000 363800 365000 347500 137 458 -7.2 -4.8 FRANKSTON NORTH 290500 287000 290000 278300 265000 21 78 -8.8 -4.8 FRANKSTON SOUTH 544000 525000 540000 530000 530000 65 207 -2.6 0.0 GARDEN CITY 1050000 ^ 1045000^ 925000^ 1202000^ 1202000* 0 8 NA NA GARFIELD 295000 ^ 300000^ 280000^ 350000^ 319500^ 2 16 8.3 -8.7 GEELONG 479000 557500 457500 460000 545000 15 54 13.8 18.5 GEELONG WEST 374000 400000 417000 400000 397500 38 104 6.3 -0.6

Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep No. of No. of Change (%) Locality 2010 2010 2011 2011 2011 Sales Sales Jul-Sep Apr-Jun 2010 2011 Jul-Sep YTD to to Jul-Sep Jul-Sep 2011 2011 2011 2011

GEMBROOK 355000 300000^ 385000^ 464000^ 291000^ 5 17 -18.0 -37.3 GISBORNE 397500 400000 435000 454000 420000 21 76 5.7 -7.5 GLADSTONE PARK 420000 410000 400000 390000 366500 26 57 -12.7 -6.0 GLEN HUNTLY 791000 ^ 1030000^ 855000^ 805000^ 721300^ 8 16 -8.8 -10.4 GLEN IRIS 1275000 1270000 1198500 1183000 1185000 45 159 -7.1 0.2 GLEN WAVERLEY 733700 778000 728000 742900 735000 93 295 0.2 -1.1 GLENGARRY 236000 * 254000^ 302500^ 190000^ 231000^ 4 7 NA 21.6 GLENROWAN 312000 ^ 280000^ 300000^ 245000^ 301500^ 2 6 -3.4 23.1 GLENROY 502500 503000 459000 462500 430000 56 190 -14.4 -7.0 GOLDEN BEACH 150000 * 140000^ 170000^ 252000^ 225000^ 3 9 NA -10.7 GOLDEN POINT (Ballarat) 250000 225500 226500 241500 265000 15 47 6.0 9.7 GOLDEN SQUARE 269500 266500 265000 262500 276500 52 148 2.6 5.3 GORDON 290000 * 250000^ 250000* 305000^ 326000^ 2 8 NA 6.9 GOUGHS BAY 202000 ^ 200000^ 230000^ 168500^ 197000^ 4 11 -2.5 16.9 GOWANBRAE 480500 ^ 493000 494000^ 600000 507300^ 8 28 5.6 -15.5 GRANTVILLE 242500 ^ 225000^ 330000^ 175000^ 273500^ 2 8 12.8 56.3 GREENSBOROUGH 552800 551300 518500 520000 512500 76 183 -7.3 -1.4 GREENVALE 510000 540000 527500 545000 585000 21 76 14.7 7.3 GROVEDALE 335000 325000 351900 353800 332000 63 182 -0.9 -6.2 HADFIELD 552500 530000 550000 487000 453000 14 42 -18.0 -7.0 HALLAM 385800 355000 365000 330000 355000 29 89 -8.0 7.6 HALLS GAP 244300 ^ 311500^ 234000^ 310000^ 310000* 0 8 NA NA HAMILTON 208000 240000 213800 212500 215000 25 112 3.4 1.2 HAMLYN HEIGHTS 322000 355000 330000 348500 350000 23 73 8.7 0.4 HAMPTON 1355000 1477500 1250000 1400000 1250000 31 97 -7.7 -10.7 HAMPTON EAST 777500 837000 660000 777300 740500 18 44 -4.8 -4.7 HAMPTON PARK 335000 337500 337000 330000 326800 66 253 -2.5 -1.0 HARCOURT 180000 ^ 350000^ 350000^ 350000* 225000^ 3 6 25.0 NA HASTINGS 337300 345000 327500 335000 375000 24 123 11.2 11.9 HAWTHORN 1218000 1323500 1252000 1369500 1500000 37 122 23.2 9.5 HAWTHORN EAST 1260000 1240000 1313500 1230000 1315000 29 98 4.4 6.9 HAZELDENE 185000 * 161800^ 217000^ 330000^ 286500^ 1 3 NA -13.2 HEALESVILLE 368800 390000 344500 393000 390000 26 83 5.8 -0.8 HEATHCOTE 210800 ^ 216000^ 175000^ 255000 167500^ 8 24 -20.5 -34.3 HEATHERTON 633800 625100 653500 620000^ 678200^ 9 24 7.0 9.4 HEATHMONT 558000 526500 496100 555000 522600 32 94 -6.4 -5.8 HEIDELBERG 797500 833800 810000^ 711800 817500 10 33 2.5 14.9 HEIDELBERG HEIGHTS 522200 556000 558600 512500 542500 13 44 3.9 5.9 HEIDELBERG WEST 480000 480000 429500 434000 405500^ 8 47 -15.5 -6.6 HEPBURN SPRINGS 240500 ^ 298000^ 257800^ 353000^ 360000^ 7 15 49.7 2.0 HERNE HILL 320000 330500 329000 334500 305000^ 9 37 -4.7 -8.8 HEYFIELD 150000 ^ 170000^ 187500^ 175000^ 174000^ 8 14 16.0 -0.6 HEYWOOD 170000 ^ 160000^ 197500^ 161500^ 71000^ 1 10 -58.2 -56.0

^ means there are less than 10 sales for the quarter * means there were no sales for the quarter and the first non-zero figure is carried forward NA means insufficent data was available to create the percentage change Page 20 MEDIAN HOUSE PRICES Jul-Sep 2010 to Jul-Sep 2011

Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep No. of No. of Change (%) Locality 2010 2010 2011 2011 2011 Sales Sales Jul-Sep Apr-Jun 2010 2011 Jul-Sep YTD to to Jul-Sep Jul-Sep 2011 2011 2011 2011

HIGHETT 756000 725000 727500 700000 681000 34 79 -9.9 -2.7 HIGHTON 440500 440000 498500 430000 465000 80 228 5.6 8.1 HILLSIDE (Melton) 400000 411000 430000 390000 409300 42 149 2.3 4.9 HOPETOUN 58000 ^ 58000* 58000* 58000* 56000^ 1 1 -3.4 NA HOPPERS CROSSING 330000 335000 323800 329300 330800 138 446 0.2 0.5 HORSHAM 183800 185000 213500 210000 202500 69 192 10.2 -3.6 HOWQUA INLET 163000 ^ 200600^ 177000^ 189000^ 189000* 0 6 NA NA HUGHESDALE 841000 860000 793500^ 662500 767500 13 36 -8.7 15.8 HUNTINGDALE 629000 ^ 667500^ 660000^ 630000^ 456300^ 4 14 -27.5 -27.6 HURSTBRIDGE 506500 ^ 476000 490000^ 440000^ 440000^ 7 21 -13.1 0.0 INDENTED HEAD 410000 335000^ 430000^ 320500^ 307000^ 5 20 -25.1 -4.2 INGLEWOOD 161300 ^ 175000^ 65000^ 187500^ 220000^ 5 9 36.4 17.3 INVERLOCH 432500 475000 462500 488000 454500 34 100 5.1 -6.9 INVERMAY PARK 357500 ^ 321500^ 331500^ 361800 284500^ 2 20 -20.4 -21.4 IRONBARK 226300 ^ 232500 282500^ 295000^ 307500^ 5 21 35.9 4.2 IRYMPLE 221000 245000 257500^ 230000 215000 17 37 -2.7 -6.5 IVANHOE 955000 1147500 1160000 1122500 950000 25 68 -0.5 -15.4 IVANHOE EAST 1570000 ^ 1257500 1290000 1520000 1350000 11 39 -14.0 -11.2 JACANA 477500 ^ 391000^ 360000^ 355500 380000^ 3 18 -20.4 6.9 JAMIESON 272500 ^ 256500^ 352500^ 190000^ 231500^ 2 6 -15.0 21.8 JAN JUC 585500 554300 595000 585000 586800 18 51 0.2 0.3 JUNORTOUN 425000 ^ 420000^ 465000^ 510000^ 420000^ 4 7 -1.2 -17.6 KALIMNA 260000 ^ 255000^ 280000^ 367800^ 367800* 0 5 NA NA KALLISTA 635000 ^ 405000^ 525000^ 440300^ 540000^ 4 10 -15.0 22.7 KALORAMA 508500 435000^ 413300^ 416000^ 492500^ 4 16 -3.1 18.4 KANGAROO FLAT 270000 260000 256500 269500 287800 36 127 6.6 6.8 KANIVA 99000 ^ 90000^ 102000^ 70000^ 72300^ 2 11 -27.0 3.2 KEALBA 410000 335500^ 375500 362000 390000^ 9 36 -4.9 7.7 KEILOR 580000 555000 590000 540000 723800 10 39 24.8 34.0 KEILOR DOWNS 425500 452500 405000 405000 429500 18 52 0.9 6.0 KEILOR EAST 616600 600000 641000 573000 575000 24 100 -6.8 0.3 KEILOR LODGE 525000 ^ 425000^ 485000^ 598500^ 460000^ 5 8 -12.4 -23.1 KEILOR PARK 530000 525000^ 475000^ 515000 450000^ 5 18 -15.1 -12.6 KENNINGTON 285000 293500 342500 280000 282500 30 85 -0.9 0.9 KENSINGTON 650000 665500 643500 694300 621500 46 119 -4.4 -10.5 KERANG 126000 165000 164500^ 160000 100000^ 7 23 -20.6 -37.5 KEW 1497500 1650000 1800000 1450000 1285000 41 174 -14.2 -11.4 KEW EAST 1206500 1217500 1134500 1217500 942500^ 6 36 -21.9 -22.6 KEYSBOROUGH 415000 413800 432100 448000 427500 66 212 3.0 -4.6 KIALLA 335000 275000 362500 382500 355000 23 56 6.0 -7.2 KILMORE 340000 364000 334000 320000 337500 15 74 -0.7 5.5 KILSYTH 443800 435000 415000 451500 430000 39 121 -3.1 -4.8 KILSYTH SOUTH 580000 ^ 515500^ 628500^ 525000^ 484300^ 4 14 -16.5 -7.8

^ means there are less than 10 sales for the quarter * means there were no sales for the quarter and the first non-zero figure is carried forward NA means insufficent data was available to create the percentage change Page 21 MEDIAN HOUSE PRICES Jul-Sep 2010 to Jul-Sep 2011

Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep No. of No. of Change (%) Locality 2010 2010 2011 2011 2011 Sales Sales Jul-Sep Apr-Jun 2010 2011 Jul-Sep YTD to to Jul-Sep Jul-Sep 2011 2011 2011 2011

KINGS PARK 350000 337500 333500 353000 316500 22 62 -9.6 -10.3 KINGSBURY 450000 ^ 485000 567500^ 491000 435000^ 7 23 -3.3 -11.4 KINGSVILLE 710000 ^ 640000 634800 552500 603500 14 44 -15.0 9.2 KNOXFIELD 478600 485000 484600 475000 480000 15 59 0.3 1.1 KOO WEE RUP 297000 336000 365300 305000^ 302300 12 33 1.8 -0.9 KOOYONG 1857500 ^ 1695000^ 1725000^ 1576000^ 6215000^ 1 4 234.6 294.4 KOROIT 219800 ^ 287300^ 272000 326500^ 249900^ 3 19 13.7 -23.5 KORUMBURRA 230000 245000 261300 253500 235000 23 59 2.2 -7.3 KURUNJANG 295000 291000 295500 300000 300000 39 129 1.7 0.0 KYABRAM 215000 210000 200000 191500 220000 18 59 2.3 14.9 KYNETON 341000 370000 360000 415000 360000 24 73 5.6 -13.3 LAKE BOGA 263000 ^ 163300^ 130000^ 252500^ 225000^ 4 8 -14.5 -10.9 LAKE GARDENS 396000 580000^ 390000^ 450000 437500^ 4 28 10.5 -2.8 LAKE TYERS BEACH 285000 ^ 295300^ 305000^ 377500^ 285000^ 2 8 0.0 -24.5 LAKE WENDOUREE 428000 630000 500000 625000 670000^ 7 40 56.5 7.2 LAKES ENTRANCE 283800 247500 315000 275000 290000 13 59 2.2 5.5 LALOR 380000 391000 387500 390000 380000 42 140 0.0 -2.6 LANCEFIELD 330000 238000^ 310000 330000^ 327500^ 6 19 -0.8 -0.8 LANG LANG 359100 ^ 255800^ 310000^ 366000^ 293000^ 9 18 -18.4 -19.9 LANGWARRIN 410000 425000 405900 400000 380000 87 244 -7.3 -5.0 LARA 342500 348000 340000 352500 370000 40 151 8.0 5.0 LARA LAKE 320000 ^ 340000^ 308800 304000^ 305000^ 6 20 -4.7 0.3 LAUNCHING PLACE 275000 ^ 355000^ 375000^ 430000^ 295000^ 9 19 7.3 -31.4 LAVERTON 358800 350000 373800 340000 340000 15 58 -5.2 0.0 LEONGATHA 302500 283800 280000 282500 295000 22 79 -2.5 4.4 LEOPOLD 345000 344800 338000 344500 328000 37 136 -4.9 -4.8 LILYDALE 446000 455000 457800 435000 452500 48 163 1.5 4.0 LISMORE 134000 ^ 180000^ 135000^ 159000^ 85000^ 3 9 -36.6 -46.5 LOCH SPORT 167500 170000^ 180000 193000 141500^ 9 30 -15.5 -26.7 LOCKINGTON 149000 ^ 183000^ 183000* 183000* 148000^ 3 3 -0.7 NA LONG GULLY 228000 215000 220000 201000 220000 18 53 -3.5 9.5 LONGWARRY 262500 267000 272000 271000 292800^ 6 41 11.5 8.0 LORNE 680500 ^ 840000 945000 912000^ 612000^ 5 31 -10.1 -32.9 LOVELY BANKS 320000 ^ 378000^ 491000^ 386000^ 255000^ 6 12 -20.3 -33.9 LOWER PLENTY 605000 ^ 645000 640000^ 572500^ 515000^ 3 16 -14.9 -10.0 LUCKNOW 215000 ^ 215000* 290000^ 269300^ 228000^ 5 12 6.0 -15.3 LYNBROOK 422800 432500 430000 440400 420000 25 69 -0.7 -4.6 LYNDHURST 446300 420500 407500 426100 445000 21 71 -0.3 4.4 LYSTERFIELD 670000 680000 663300 585000 657500 16 50 -1.9 12.4 MACEDON 476000 ^ 487500^ 425000^ 482000 429800^ 6 22 -9.7 -10.8 MACLEOD 643300 647100 679000 532500 547500 20 64 -14.9 2.8 MADDINGLEY 279500 296000 290000^ 293500 300000 13 30 7.3 2.2 MAFFRA 231000 290000 232500 230000 230000 21 58 -0.4 0.0

^ means there are less than 10 sales for the quarter * means there were no sales for the quarter and the first non-zero figure is carried forward NA means insufficent data was available to create the percentage change Page 22 MEDIAN HOUSE PRICES Jul-Sep 2010 to Jul-Sep 2011

Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep No. of No. of Change (%) Locality 2010 2010 2011 2011 2011 Sales Sales Jul-Sep Apr-Jun 2010 2011 Jul-Sep YTD to to Jul-Sep Jul-Sep 2011 2011 2011 2011

MAIDEN GULLY 385000 385000^ 461500 429500^ 303800^ 6 24 -21.1 -29.3 MAIDSTONE 592500 597500 480000 556000 538000 21 70 -9.2 -3.2 MALDON 395000 252500 250000^ 285000 265000 16 42 -32.9 -7.0 MALLACOOTA 437500 ^ 210000^ 300000^ 253000^ 208800^ 4 8 -52.3 -17.5 MALMSBURY 305000 ^ 330000^ 269000^ 191000^ 320000^ 3 12 4.9 67.5 MALVERN 2155000 1700000 1965000 1691500 1172500 26 85 -45.6 -30.7 MALVERN EAST 1200500 1100000 1200000 1067500 1020200 48 172 -15.0 -4.4 MANIFOLD HEIGHTS 387000 442500^ 425000^ 495000^ 405000^ 8 23 4.7 -18.2 MANSFIELD 275000 340000 287500 310000 287500 16 42 4.5 -7.3 MARIBYRNONG 735000 650000 650000 665000 609800 32 89 -17.0 -8.3 MARLO 315000 ^ 285000^ 310000^ 475000^ 475000* 0 6 NA NA MARSHALL 364500 ^ 380000^ 322500^ 318000^ 350000^ 7 16 -4.0 10.1 MARYBOROUGH 155000 175500 168000 199000 175000 50 135 12.9 -12.1 MCCRAE 602500 512000 540500 590000 750000 14 61 24.5 27.1 MCKINNON 950000 987000 1000000 825500 866000 11 34 -8.8 4.9 MEADOW HEIGHTS 337000 360000 332500 320000 314000 40 108 -6.8 -1.9 MELTON 257500 255000 260000 255000 245000 25 102 -4.9 -3.9 MELTON SOUTH 262500 254500 255500 257500 235000 39 123 -10.5 -8.7 MELTON WEST 301000 308300 300000 316000 315000 59 204 4.7 -0.3 MENTONE 680000 685000 728800 765000 674000 30 92 -0.9 -11.9 MERBEIN 165000 ^ 188000^ 150500 217000^ 154500^ 6 23 -6.4 -28.8 MERNDA 405000 377000 402000 401000 400500 54 178 -1.1 -0.1 METUNG 357000 ^ 325300^ 306000^ 262000^ 300000^ 3 16 -16.0 14.5 MIDDLE PARK 1582500 1620000 2075000^ 1357500 1300000^ 7 34 -17.9 -4.2 MILDURA 210000 225500 230000 221000 218000 119 359 3.8 -1.4 MILL PARK 420000 415000 423500 410000 402000 71 221 -4.3 -2.0 MILLGROVE 224000 245000 240000 253500 215800 14 36 -3.7 -14.9 MINERS REST 340000 325400 345000 320000 344000 12 37 1.2 7.5 MINYIP 110000 ^ 63000^ 67000^ 43000^ 102500^ 3 7 -6.8 138.4 MIRBOO NORTH 240000 239500^ 220000^ 257000^ 265000^ 5 21 10.4 3.1 MITCHAM 622000 615500 590000 582300 596800 28 127 -4.1 2.5 MITCHELL PARK 287000 ^ 247500^ 245000^ 246000^ 268500^ 2 9 -6.4 9.1 MOE 151500 162000 173800 170000 145000 54 148 -4.3 -14.7 MONBULK 380000 425000 430000^ 370000^ 375000^ 9 27 -1.3 1.4 MONT ALBERT 1115000 ^ 1267500 1335000 1255000 1418000^ 6 31 27.2 13.0 MONT ALBERT NORTH 1025500 971000 927500 1020000 750000 19 51 -26.9 -26.5 MONTMORENCY 550000 560000 550000 571000 567500 24 75 3.2 -0.6 MONTROSE 435000 485000 430600 437500 431500 24 66 -0.8 -1.4 MOONEE PONDS 856000 848000 840000 755000 772500 28 93 -9.8 2.3 MOORABBIN 686100 681500 715300 610000^ 628000 17 48 -8.5 3.0 MOOROOLBARK 441500 450000 441000 439000 431000 75 258 -2.4 -1.8 MOOROOPNA 240000 218500 208000 225000 205500 24 72 -14.4 -8.7 MORDIALLOC 666300 684000 660000 635000 645000 13 67 -3.2 1.6

^ means there are less than 10 sales for the quarter * means there were no sales for the quarter and the first non-zero figure is carried forward NA means insufficent data was available to create the percentage change Page 23 MEDIAN HOUSE PRICES Jul-Sep 2010 to Jul-Sep 2011

Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep No. of No. of Change (%) Locality 2010 2010 2011 2011 2011 Sales Sales Jul-Sep Apr-Jun 2010 2011 Jul-Sep YTD to to Jul-Sep Jul-Sep 2011 2011 2011 2011

MORNINGTON 500000 545000 520000 518000 460500 80 304 -7.9 -11.1 MORTLAKE 150000 ^ 159000 187000^ 205000^ 146000^ 7 13 -2.7 -28.8 MORWELL 150000 163500 155000 169000 167500 40 161 11.7 -0.9 MOUNT BEAUTY 195000 ^ 187500^ 205800^ 173000^ 175000^ 6 13 -10.3 1.2 MOUNT CLEAR 279500 ^ 255000 269000 287000 314300 14 48 12.4 9.5 MOUNT DANDENONG 526300 ^ 532500^ 490000 380000^ 495000^ 7 22 -5.9 30.3 MOUNT ELIZA 687500 678000 715000 715000 770000 59 211 12.0 7.7 MOUNT EVELYN 400000 373000 380000 425000 401000 26 104 0.3 -5.6 MOUNT HELEN 315000 ^ 300000 372000^ 355000 335500 12 35 6.5 -5.5 MOUNT MACEDON 566000 ^ 600000^ 567500^ 772500^ 485000^ 7 16 -14.3 -37.2 MOUNT MARTHA 640000 645000 632000 660000 620000 56 221 -3.1 -6.1 MOUNT PLEASANT 237000 255000 259500^ 246500^ 270000^ 9 23 13.9 9.5 MOUNT WAVERLEY 800000 789400 785000 734700 702000 85 250 -12.3 -4.4 MULGRAVE 550100 530000 533300 540000 516500 46 147 -6.1 -4.4 MURRUMBEENA 785000 845000 900000 870000 839000^ 7 39 6.9 -3.6 MURTOA 62000 ^ 96000^ 100500^ 155000^ 165100^ 2 10 166.3 6.5 MYRTLEFORD 193000 ^ 162000 250000 273500^ 219000 11 31 13.5 -19.9 NAGAMBIE 295000 ^ 230000^ 245000^ 305000^ 289000^ 2 20 -2.0 -5.2 NAR NAR GOON 355000 ^ 495000^ 275000^ 350000^ 350000* 0 2 NA NA NARRE WARREN 372300 375000 368000 367000 366000 79 281 -1.7 -0.3 NARRE WARREN NORTH 667500 ^ 645000^ 680000 740000^ 866300^ 2 21 29.8 17.1 NARRE WARREN SOUTH 408000 437500 413500 405000 400000 89 288 -2.0 -1.2 NATHALIA 167500 ^ 152500^ 131300^ 248000^ 196000^ 5 16 17.0 -21.0 NERRINA 380000 ^ 427000^ 355000^ 545000^ 510000^ 3 15 34.2 -6.4 NEW GISBORNE 410000 ^ 499000^ 529000^ 522500^ 465000^ 9 26 13.4 -11.0 NEWBOROUGH 214000 185500 205000 205000 192800 20 78 -9.9 -6.0 NEWCOMB 284000 274000 265000 281000 275000 21 75 -3.2 -2.1 NEWINGTON 255100 310500 271500 273500^ 315000^ 7 24 23.5 15.2 NEWLANDS ARM 318500 ^ 280000^ 348500^ 162000^ 162000* 0 6 NA NA NEWPORT 664000 675000 726000 672500 688500 46 148 3.7 2.4 NEWTOWN (Geelong) 571400 610000 532500 522500 538000 34 134 -5.8 3.0 NHILL 95000 151500^ 114500^ 110000 125000^ 7 23 31.6 13.6 NIDDRIE 727500 750000 784300 740000 620100 20 56 -14.8 -16.2 NOBLE PARK 415000 414000 423800 411500 390000 56 188 -6.0 -5.2 NOBLE PARK NORTH 412500 420000 400600 390000 395000 21 67 -4.2 1.3 NORLANE 200000 190000 200000 205000 208000 32 124 4.0 1.5 NORTH BENDIGO 220000 215000 252500 216000 220500 18 47 0.2 2.1 NORTH GEELONG 309000 480000 290000 301000 304000 14 39 -1.6 1.0 NORTH MELBOURNE 775000 898200 742500 760000 711300 20 56 -8.2 -6.4 NORTH WARRANDYTE 623000 ^ 700000^ 627500^ 680000^ 502500 10 21 -19.3 -26.1 NORTH WONTHAGGI 346300 292500 355000 279000 265000 13 36 -23.5 -5.0 NORTHCOTE 849500 855000 810500 880000 820000 60 179 -3.5 -6.8 NOTTING HILL 543000 ^ 582500^ 602500^ 530000^ 472500^ 4 13 -13.0 -10.8

^ means there are less than 10 sales for the quarter * means there were no sales for the quarter and the first non-zero figure is carried forward NA means insufficent data was available to create the percentage change Page 24 MEDIAN HOUSE PRICES Jul-Sep 2010 to Jul-Sep 2011

Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep No. of No. of Change (%) Locality 2010 2010 2011 2011 2011 Sales Sales Jul-Sep Apr-Jun 2010 2011 Jul-Sep YTD to to Jul-Sep Jul-Sep 2011 2011 2011 2011

NUMURKAH 220000 167000 175500 214500 233000 14 56 5.9 8.6 NUNAWADING 650000 633300 585000 600000 587500 30 101 -9.6 -2.1 NYORA 255000 ^ 223800^ 223800* 217500^ 170000^ 2 5 -33.3 -21.8 OAK PARK 625500 660000 534000 558000 525500 14 50 -16.0 -5.8 OAKLEIGH 755000 635000 675000 735000 683500 16 43 -9.5 -7.0 OAKLEIGH EAST 702500 ^ 715000^ 642700 679000^ 595000^ 6 19 -15.3 -12.4 OAKLEIGH SOUTH 618000 636300 673800 624100 612000 15 51 -1.0 -1.9 OCEAN GROVE 425000 455000 470000 460000 465000 47 180 9.4 1.1 OFFICER 385000 385000 417000 415000 365000 11 38 -5.2 -12.1 OLINDA 462800 ^ 428500^ 525000^ 440100^ 652800^ 3 16 41.1 48.3 ORBOST 165000 ^ 247500 155000^ 153800^ 176000^ 7 24 6.7 14.5 ORMOND 1050000 950000 1102500 835000 832500 12 41 -20.7 -0.3 OSBORNE 480000 570000 552500 505000 555000 15 56 15.6 9.9 OUYEN 103000 ^ 117500^ 172500^ 137500^ 65000^ 7 15 -36.9 -52.7 PAKENHAM 337000 345600 345000 340000 339500 200 618 0.7 -0.1 PARK ORCHARDS 940000 ^ 945000^ 890500^ 974400^ 996500^ 8 20 6.0 2.3 PARKDALE 735000 765000 780000 788000 656300 22 73 -10.7 -16.7 PARKVILLE 1150000 ^ 1657500^ 885000^ 1060000^ 1477500^ 8 19 28.5 39.4 PASCOE VALE 652000 580000 560000 533800 566000 44 130 -13.2 6.0 PASCOE VALE SOUTH 652500 635000 618000 646300 630000 16 65 -3.4 -2.5 PATTERSON LAKES 590000 635000 630000 673500 575000 27 79 -2.5 -14.6 PAYNESVILLE 312000 272500 347000 280000 325000 17 55 4.2 16.1 PEARCEDALE 416000 ^ 400000 460000 376800 378000^ 6 31 -9.1 0.3 PIONEER BAY 218800 ^ 232000^ 195000^ 206000^ 190000^ 5 9 -13.1 -7.8 PLENTY 851000 972500^ 840000^ 945000^ 727500^ 2 14 -14.5 -23.0 POINT COOK 435000 473500 440000 460000 432500 128 455 -0.6 -6.0 POINT LONSDALE 450000 ^ 750000 657500 670000 691500 10 41 53.7 3.2 PORT FAIRY 418800 392500 365000 360000^ 375000 17 50 -10.4 4.2 PORT MELBOURNE 1090000 975000 950000 880000 830500 37 95 -23.8 -5.6 PORTARLINGTON 370000 395000 498000 390000 432500 10 66 16.9 10.9 PORTLAND 225000 226000 265000 212500 234600 42 127 4.2 10.4 PORTSEA 872500 ^ 1455000^ 1780000 1850000^ 1050000 11 40 20.3 -43.2 PRAHRAN 980000 916300 870000 990000 830000 28 82 -15.3 -16.2 PRESTON 600000 613000 595000 625000 570000 59 210 -5.0 -8.8 PRINCES HILL 908000 ^ 895000^ 855000^ 1150500^ 770000^ 3 13 -15.2 -33.1 QUARRY HILL 267500 375000^ 297500 290000^ 274000^ 7 34 2.4 -5.5 QUEENSCLIFF 692500 650000^ 530000 965000^ 535000^ 6 26 -22.7 -44.6 RAWSON 159000 ^ 159000* 152500^ 197500^ 146000^ 2 6 -8.2 -26.1 RAYMOND ISLAND 215000 ^ 278800 212500^ 247300^ 291300^ 6 14 35.5 17.8 RED CLIFFS 172500 159000 170000 160000 210000 13 54 21.7 31.3 RED HILL 610000 ^ 615000^ 728000^ 612500^ 1000000^ 2 9 63.9 63.3 REDAN 233500 240500 207500 224500 237500 16 46 1.7 5.8 RESEARCH 700000 ^ 571500^ 657000^ 550000^ 547000^ 3 15 -21.9 -0.5

^ means there are less than 10 sales for the quarter * means there were no sales for the quarter and the first non-zero figure is carried forward NA means insufficent data was available to create the percentage change Page 25 MEDIAN HOUSE PRICES Jul-Sep 2010 to Jul-Sep 2011

Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep No. of No. of Change (%) Locality 2010 2010 2011 2011 2011 Sales Sales Jul-Sep Apr-Jun 2010 2011 Jul-Sep YTD to to Jul-Sep Jul-Sep 2011 2011 2011 2011

RESERVOIR 520000 495500 518000 505000 480000 105 338 -7.7 -5.0 RHYLL 707500 ^ 410000^ 407500^ 380000^ 612500^ 2 15 -13.4 61.2 RICHMOND 901000 850000 825000 808500 853800 84 227 -5.2 5.6 RIDDELLS CREEK 450000 462500 436000 503300 412500^ 6 29 -8.3 -18.0 RINGWOOD 532500 533300 521300 480000 480000 27 120 -9.9 0.0 RINGWOOD EAST 540000 511000 530000 490000 530000 27 98 -1.9 8.2 RINGWOOD NORTH 575000 559000 598500 551000 562000 21 89 -2.3 2.0 ROBINVALE 197900 ^ 126000^ 127500^ 185000^ 104000^ 4 21 -47.4 -43.8 ROCHESTER 155000 140000 230000^ 220000 178000^ 8 25 14.8 -19.1 ROMSEY 345500 369000 398800 392500 360000 13 49 4.2 -8.3 ROSANNA 719000 770000 753000 643500 723000 20 61 0.6 12.4 ROSEBUD 368000 375000 370000 380000 373500 50 193 1.5 -1.7 ROSEBUD SOUTH 340000 ^ 442500^ 380000^ 480000^ 390000 12 24 14.7 -18.8 ROSEBUD WEST 355000 350100 390000 369000 358300 22 59 0.9 -2.9 ROSEDALE 182500 ^ 189500^ 189500* 150000^ 226300^ 2 5 24.0 50.8 ROWVILLE 532500 520500 540000 517500 542300 88 292 1.8 4.8 ROXBURGH PARK 377500 365000 360000 367000 350000 64 196 -7.3 -4.6 RUPANYUP - 127500^ 127500* 105000^ 100000^ 5 7 0.0 -4.8 RUSHWORTH 236800 ^ 171500^ 209000^ 149000^ 137000^ 3 16 -42.1 -8.1 RUTHERGLEN 217000 ^ 200000^ 167500^ 193000^ 243800^ 8 19 12.4 26.3 RYE 447300 465000 442500 490000 420000 84 256 -6.1 -14.3 SAFETY BEACH 548600 503000 537500 505000 490000 25 96 -10.7 -3.0 SALE 310000 287500 310000 270000 300000 49 141 -3.2 11.1 SAN REMO 415800 ^ 452500^ 362000 632500^ 397500^ 4 20 -4.4 -37.2 SANCTUARY LAKES 490000 487500 482500 520000 520000 41 135 6.1 0.0 SANDHURST 457500 527000 500000 532000 512500 20 53 12.0 -3.7 SANDRINGHAM 1100000 1262500 1220000 1227500 1088000 20 69 -1.1 -11.4 SANDY POINT 365000 ^ 487500^ 662500^ 445000^ 340000^ 4 13 -6.8 -23.6 SASSAFRAS 520400 ^ 677500^ 680000^ 430000^ 497500^ 4 8 -4.4 15.7 SCORESBY 500000 494500 481500 473000 494000 16 63 -1.2 4.4 SEA LAKE 62500 ^ 65000^ 150000^ 110000^ 72500^ 4 13 16.0 -34.1 SEABROOK 420000 422500 406500 465000 390000 10 41 -7.1 -16.1 SEAFORD 415000 417000 420300 415500 406000 54 206 -2.2 -2.3 SEAHOLME 735000 ^ 625000^ 630000^ 590000^ 607500^ 4 17 -17.3 3.0 SEBASTOPOL 231300 234900 229500 228000 225500 42 157 -2.5 -1.1 SEDDON 630000 627500 615000 636900 631500 26 63 0.2 -0.8 SELBY 395000 ^ 465000^ 415000^ 456300^ 441500^ 6 14 11.8 -3.2 SEVILLE 395500 ^ 385000^ 380100^ 355000^ 385000^ 8 19 -2.7 8.5 SEVILLE EAST 305000 ^ 390000^ 370000^ 325000^ 372500^ 4 12 22.1 14.6 SEYMOUR 195000 233500 197500 182500 190000 19 72 -2.6 4.1 SHEPPARTON 250500 254000 260000 245000 232000 76 286 -7.4 -5.3 SILVERLEAVES 450000 ^ 590000^ 470500^ 533700^ 460000^ 2 17 2.2 -13.8 SKENES CREEK 435000 * 435000* 463000^ 370000^ 357500^ 1 10 NA -3.4

^ means there are less than 10 sales for the quarter * means there were no sales for the quarter and the first non-zero figure is carried forward NA means insufficent data was available to create the percentage change Page 26 MEDIAN HOUSE PRICES Jul-Sep 2010 to Jul-Sep 2011

Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep No. of No. of Change (%) Locality 2010 2010 2011 2011 2011 Sales Sales Jul-Sep Apr-Jun 2010 2011 Jul-Sep YTD to to Jul-Sep Jul-Sep 2011 2011 2011 2011

SKYE 365000 381300 365000 387500 395000 38 106 8.2 1.9 SMITHS BEACH 390000 ^ 560000^ 361300^ 800000^ 483500^ 4 9 24.0 -39.6 SOLDIERS HILL 282500 268000 281100 253000 298800 18 60 5.8 18.1 SOMERS 600000 650000 568000 600000 975000^ 7 29 62.5 62.5 SOMERVILLE 373000 399000 369000 380000 376500 47 116 0.9 -0.9 SORRENTO 845000 832500 1125000 880000 1211300 10 72 43.3 37.6 SOUTH GEELONG 394000 ^ 460800^ 467500^ 400000^ 328000^ 6 13 -16.8 -18.0 SOUTH KINGSVILLE 620000 ^ 690000^ 643800^ 610000^ 606300^ 4 16 -2.2 -0.6 SOUTH MELBOURNE 1075000 1040000 1150000 925000 771000 14 61 -28.3 -16.6 SOUTH MORANG 412000 426000 406000 420000 402500 74 263 -2.3 -4.2 SOUTH YARRA 978800 1375000 1450000 1100000 970000 29 93 -0.9 -11.8 SPOTSWOOD 618000 ^ 703000^ 678000 635000 555000^ 7 31 -10.2 -12.6 SPRING GULLY 300000 288000 325000^ 342500 282500 12 27 -5.8 -17.5 SPRINGVALE 491000 532500 486000 472500 468800 42 121 -4.5 -0.8 SPRINGVALE SOUTH 462500 425000 433500 413000 412500 32 67 -10.8 -0.1 ST ALBANS 394300 385000 399000 401000 365000 61 212 -7.4 -9.0 ST ALBANS PARK 296000 315000 300000 325000 313300 20 64 5.8 -3.6 ST ANDREWS BEACH 520000 ^ 500000^ 635000^ 550000^ 420000^ 7 24 -19.2 -23.6 ST ARNAUD 125000 125000 125000^ 140000 115500^ 8 29 -7.6 -17.5 ST HELENA 593500 ^ 605000^ 561000^ 545000^ 613500^ 6 19 3.4 12.6 ST KILDA 860000 797000 830000 760000 850000 31 75 -1.2 11.8 ST KILDA EAST 880000 1031000 1280000 796800 911000 14 55 3.5 14.3 ST KILDA WEST 2000000 ^ 1380000^ 1800000^ 1477500^ 955000^ 2 14 -52.3 -35.4 ST LEONARDS 337500 340000 396000 365000 413300 16 71 22.4 13.2 STAWELL 150000 160000 153300 140000 158000 30 91 5.3 12.9 STRATFORD 205000 216500^ 225000^ 250000^ 299000^ 3 18 45.9 19.6 STRATHDALE 345000 325000 369000 359000 370000 17 79 7.2 3.1 STRATHFIELDSAYE 369000 375000 369500 371000 344800 10 39 -6.6 -7.1 STRATHMORE 885000 785000 756000 770000 817500 20 61 -7.6 6.2 STRATHMORE HEIGHTS 572000 * 607500^ 742500^ 691300^ 520000^ 1 7 NA -24.8 STUDFIELD 410000 ^ 525000^ 519000^ 595000^ 595000* 0 3 NA NA SUNBURY 350000 360000 355000 360000 375500 134 436 7.3 4.3 SUNDERLAND BAY 307500 ^ 320000^ 332500^ 330500^ 247500^ 3 9 -19.5 -25.1 SUNSET STRIP 280000 ^ 287500^ 277500^ 277500* 295000^ 7 9 5.4 NA SUNSHINE 433000 472500 423000 455000 430000 26 73 -0.7 -5.5 SUNSHINE NORTH 470000 420000 435000 412000 432000 27 98 -8.1 4.9 SUNSHINE WEST 400000 414500 420000 400000 381500 36 136 -4.6 -4.6 SURF BEACH 458000 ^ 320000^ 375000^ 351500^ 250000^ 1 11 -45.4 -28.9 SURREY HILLS 1290000 1175000 1187500 1175000 1242500 24 102 -3.7 5.7 SWAN HILL 199000 236000 240800 221000 210000 29 95 5.5 -5.0 SYDENHAM 412500 380000 438500 411800 395000 25 71 -4.2 -4.1 TALLANGATTA 222500 ^ 130000^ 165000^ 149800^ 220500^ 6 12 -0.9 47.2 TARNEIT 365500 370000 375000 375000 370000 91 278 1.2 -1.3

^ means there are less than 10 sales for the quarter * means there were no sales for the quarter and the first non-zero figure is carried forward NA means insufficent data was available to create the percentage change Page 27 MEDIAN HOUSE PRICES Jul-Sep 2010 to Jul-Sep 2011

Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep No. of No. of Change (%) Locality 2010 2010 2011 2011 2011 Sales Sales Jul-Sep Apr-Jun 2010 2011 Jul-Sep YTD to to Jul-Sep Jul-Sep 2011 2011 2011 2011

TATURA 220000 ^ 187000 190000 212000 200000^ 9 40 -9.1 -5.7 TAYLORS HILL 415500 435000 383800 487000 430000 43 112 3.5 -11.7 TAYLORS LAKES 447500 475000 495000 493500 495000 32 100 10.6 0.3 TECOMA 403500 370500 460000 393500^ 382000 11 28 -5.3 -2.9 TEMPLESTOWE 778000 835000 740900 786900 847500 40 104 8.9 7.7 TEMPLESTOWE LOWER 700000 740000 742000 712000 705000 21 96 0.7 -1.0 TERANG 177500 ^ 173500^ 160000^ 167500 186000 11 30 4.8 11.0 THE BASIN 422000 436300 420000 395000 363000^ 8 42 -14.0 -8.1 THE PATCH 567000 ^ 364000^ 490000^ 585000^ 480000^ 1 11 -15.3 -17.9 THOMASTOWN 408500 435000 412500 405000 400000 30 113 -2.1 -1.2 THOMSON (Geelong) 290300 282400 292500^ 270800 294000^ 5 27 1.3 8.6 THORNBURY 686000 743000 705000 725000 679500 50 122 -0.9 -6.3 TIMBOON 188500 230000^ 120000^ 195000^ 248800^ 2 6 32.0 27.6 TONGALA 97500 ^ 220000^ 150000^ 116000^ 151000^ 5 13 54.9 30.2 TOONGABBIE 372000 ^ 285000^ 230000^ 270000^ 272500^ 2 4 -26.7 0.9 TOORA 178500 ^ 157000^ 156000^ 254000^ 239000^ 2 12 33.9 -5.9 TOORADIN 359500 ^ 425500^ 323000^ 370000^ 317500^ 6 12 -11.7 -14.2 TOORAK 2386000 2971000 2400000 2600000 2511000 19 90 5.2 -3.4 TOOTGAROOK 435000 336000 372000 372000 420000 15 65 -3.4 12.9 TORQUAY 546600 545000 546000 567500 564000 44 162 3.2 -0.6 TRAFALGAR 229000 263500 305000 250000 271300 10 38 18.5 8.5 TRARALGON 265000 259500 265000 269000 280000 107 328 5.7 4.1 TRARALGON EAST 377000 ^ 370000^ 480000^ 405000^ 351000^ 5 15 -6.9 -13.3 TRENTHAM 270000 ^ 260000^ 287000^ 310800^ 246000^ 2 17 -8.9 -20.8 TRUGANINA 340000 353500 370000 362300 350000 49 142 2.9 -3.4 TULLAMARINE 450000 430000 420000 420000 396500 10 46 -11.9 -5.6 TYABB 337500 392500^ 350500^ 348800^ 355500^ 4 16 5.3 1.9 UPPER FERNTREE GULLY 432500 410000 435000 370000^ 386600^ 7 26 -10.6 4.5 UPWEY 393500 462500 421300 410000 405000 27 80 2.9 -1.2 VENTNOR 395000 ^ 385000^ 295000^ 340000 410000 10 32 3.8 20.6 VENUS BAY 262500 225000 241300 277000 277000 10 41 5.5 0.0 VERMONT 620000 610000 561000 595000 550000 29 87 -11.3 -7.6 VERMONT SOUTH 710500 684500 681000 680000 667500 24 73 -6.1 -1.8 VIEWBANK 670000 655000 646500 585000 572500 24 58 -14.6 -2.1 VIOLET TOWN 169000 ^ 163000^ 181300^ 160000^ 270000^ 1 12 59.8 68.8 WAHGUNYAH 250000 ^ 215500^ 190000^ 285000^ 190000^ 5 11 -24.0 -33.3 WALLAN 328000 320000 348000 317000 350000 23 93 6.7 10.4 WANDANA HEIGHTS 566000 ^ 541000 602500 705000^ 620000^ 3 21 9.5 -12.1 WANDIN NORTH 495300 ^ 405000^ 410000^ 350000^ 382500^ 8 26 -22.8 9.3 WANDONG 320000 ^ 346300^ 283500^ 330000^ 318000^ 1 8 -0.6 -3.6 WANGARATTA 250000 237300 255000 253400 220000 62 189 -12.0 -13.2 WANTIRNA 537500 557500 535000 530500 510000 29 99 -5.1 -3.9 WANTIRNA SOUTH 565000 505000 585000 577500 515000 49 125 -8.8 -10.8

^ means there are less than 10 sales for the quarter * means there were no sales for the quarter and the first non-zero figure is carried forward NA means insufficent data was available to create the percentage change Page 28 MEDIAN HOUSE PRICES Jul-Sep 2010 to Jul-Sep 2011

Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep No. of No. of Change (%) Locality 2010 2010 2011 2011 2011 Sales Sales Jul-Sep Apr-Jun 2010 2011 Jul-Sep YTD to to Jul-Sep Jul-Sep 2011 2011 2011 2011

WARBURTON 292000 296000 307500 350000 342500^ 9 32 17.3 -2.1 WARRACKNABEAL 112000 98000 90000 114300 115000 19 48 2.7 0.7 WARRAGUL 277000 291000 302500 280000 322500 67 209 16.4 15.2 WARRANDYTE 615000 667000 659500 661000 672500 14 42 9.3 1.7 WARRANWOOD 655000 616000 650000^ 655000 561500 15 35 -14.3 -14.3 WARRNAMBOOL 321000 324000 310000 321800 325000 94 314 1.2 1.0 WATERWAYS 637300 612500 577600 770000 640000 11 38 0.4 -16.9 WATSONIA 505000 520300 474500 508000 509500 16 52 0.9 0.3 WATSONIA NORTH 528000 ^ 530000 439000^ 500000^ 482500 10 25 -8.6 -3.5 WATTLE GLEN 465000 ^ 562000^ 583000^ 547500^ 490000^ 1 8 5.4 -10.5 WAURN PONDS 448500 450000 432000 363000 418000 12 43 -6.8 15.2 WEDDERBURN 158500 ^ 145000^ 110000^ 100000^ 104000^ 8 18 -34.4 4.0 WENDOUREE 225000 240000 235000 225500 221000 37 152 -1.8 -2.0 WERRIBEE 320000 310000 322500 315000 310000 110 421 -3.1 -1.6 WERRIBEE SOUTH 640000 ^ 436000^ 505000^ 555000^ 475000^ 1 7 -25.8 -14.4 WEST FOOTSCRAY 573800 510000 550000 535000 490500 30 97 -14.5 -8.3 WEST MELBOURNE 627500 ^ 755500^ 1027500^ 718500^ 1700000^ 1 11 170.9 136.6 WEST WODONGA 278000 296500 287500 267000 279800 46 151 0.6 4.8 WESTMEADOWS 395000 410000 430000 396000 377500 18 50 -4.4 -4.7 WHEELERS HILL 710000 690000 663000 690000 630000 55 161 -11.3 -8.7 WHITE HILLS 255000 ^ 255000 274500 271000 300000 13 38 17.6 10.7 WHITTINGTON 244800 270000 270000 279300 265000 15 38 8.3 -5.1 WHITTLESEA 350000 397000 345800 375000 364000 13 44 4.0 -2.9 WILLIAMS LANDING 425000 407500 369300 461000 440000 17 49 3.5 -4.6 WILLIAMSTOWN 915000 865500 900000 925000 855000 40 144 -6.6 -7.6 WILLIAMSTOWN NORTH 775000 ^ 737500^ 1000000^ 840000^ 562000^ 4 12 -27.5 -33.1 WIMBLEDON HEIGHTS 260000 ^ 338800^ 249500^ 249500* 249500* 0 4 NA NA WINCHELSEA 229100 ^ 245000 240000 260000 260000^ 9 35 13.5 0.0 WINDSOR 937000 1090000 821000 788100 850000 16 49 -9.3 7.9 WODONGA 237500 265000 262500 271000 272000 49 185 14.5 0.4 WOLLERT 480000 ^ 410000^ 450000 475000 402000^ 3 24 -16.3 -15.4 WONGA PARK 622500 ^ 585000^ 637000^ 677000^ 650000^ 6 23 4.4 -4.0 WONTHAGGI 275000 277500 260000 265000 248800 20 65 -9.5 -6.1 WOODEND 479500 475000 460000 492000 548000 13 43 14.3 11.4 WOOLAMAI WATERS 430000 ^ 300000^ 311000^ 332500^ 332500* 0 6 NA NA WOORI YALLOCK 295000 314000 315000 312000 310000 15 42 5.1 -0.6 WY YUNG 307500 ^ 320000^ 300000^ 355600^ 259000^ 3 13 -15.8 -27.2 WYCHEPROOF 87000 ^ 160000^ 142500^ 86000^ 76000^ 3 9 -12.6 -11.6 WYNDHAM VALE 318000 323100 331000 330000 330000 78 265 3.8 0.0 YACKANDANDAH 310000 ^ 292500^ 295000^ 308000^ 290000^ 3 9 -6.5 -5.8 YALLAMBIE 542500 572500^ 517500^ 506000 522500 10 34 -3.7 3.3 YALLOURN NORTH 150000 ^ 132500^ 125000^ 141500^ 130000^ 5 16 -13.3 -8.1 YARRA GLEN 407500 392500^ 447500 412000 375000^ 7 32 -8.0 -9.0

^ means there are less than 10 sales for the quarter * means there were no sales for the quarter and the first non-zero figure is carried forward NA means insufficent data was available to create the percentage change Page 29 MEDIAN HOUSE PRICES Jul-Sep 2010 to Jul-Sep 2011

Jul-Sep Oct-Dec Jan-Mar Apr-Jun Jul-Sep No. of No. of Change (%) Locality 2010 2010 2011 2011 2011 Sales Sales Jul-Sep Apr-Jun 2010 2011 Jul-Sep YTD to to Jul-Sep Jul-Sep 2011 2011 2011 2011

YARRA JUNCTION 389000 390000^ 387500 320000 320000^ 7 32 -17.7 0.0 YARRAGON 185000 230000^ 307500^ 220000^ 270000^ 7 18 45.9 22.7 YARRAM 205000 162500^ 182500^ 197800^ 201000^ 5 19 -2.0 1.6 YARRAVILLE 655500 623100 616800 650000 572500 50 165 -12.7 -11.9 YARRAWONGA 295000 255300 262000 270000 270000 25 82 -8.5 0.0 YEA 223500 ^ 247500^ 270000^ 245000^ 285500^ 6 18 27.7 16.5 YINNAR 305000 ^ 259000^ 259000* 194000^ 212200^ 2 7 -30.4 9.4