National Media Release

RP Data-Rismark August Hedonic Index results

Released: Friday 30 September 2011
Further information contact: Rpdata.com Mitch Koper 0417 771 778 or for Rismark Christopher Joye 0414 980 264

Robust rental growth keeps total returns positive in August

Strong rental growth rates combined with slowing dwelling value declines have seen home owners realise positive total return growth in August (+0.2%). While national dwelling values fell by -0.4% (s.a.) (or -0.1% raw) in August, this was the smallest seasonally-adjusted decline since April 2011. Bucking the national trend, home values in Australias biggest city, Sydney, rose +0.4% in raw terms (0.0% s.a.) in August. Including gross rents, Sydney dwellings have delivered a total 3.4% return in 2011 year-to-date. Nationally, capital city dwellings also produced a +0.2% total return over 2011.
In this August monthly release, RP Data and Rismark have published more detailed data on Australian housings total return. Like any other asset, property owners receive two forms of return: capital growth plus income (or rents). If you let your house, you receive rents in dollar terms. If you own your home, you save the market rent. This is the same as a business owning and occupying a building (it similarly saves on rental payments). The higher the market rent, the greater the saving (or imputed rent). Using its hedonic index technology, RP Data-Rismark measure monthly capital and gross rental returns across Australia. RP Data-Rismark report capital returns as changes in the value of homes, and rental returns as yields. This month RP Data-Rismark will commence publishing a total return series, which was always available in the underlying data as an accumulation index (the ASX also publishes accumulation indices that include dividends). In the month of August, RP Data-Rismarks Combined Capital Cities Index reported a seasonally-adjusted capital loss of -0.4 per cent (-0.1 per cent in raw terms). This was the smallest decline since April 2011. According to RP Datas senior research analyst Cameron Kusher, One of the more noteworthy findings was the resilient performance of home values in Australias largest city, Sydney, which rose in raw terms by +0.4 per cent (although 0.0 per cent s.a.). Over the last 12 months, Sydney dwelling values have increased by 0.3 per cent. Including rents, Sydneys total return has been 5.0 per cent over the past year, and is up 3.4 per cent in the first 8 months of 2011. Another key finding in August was a change in the Melbourne growth dynamics. In the four months prior to August, Melbourne home values declined by about one per cent per month (-1.0 per cent s.a. and -1.2 per cent raw). In August, Melbourne home values actually rose in raw terms by +0.2 per cent and reported a much lower seasonally-adjusted decline of just -0.2 per cent. It will be interesting to see whether this trend continues as the Spring Selling Season kicks-off, Mr Kusher said. The second big driver in the Australian housing market today has been the surge in rental returns. According to the ABS, rents have increased at a 4.9 per cent annualised pace in the first half of 2011, which is well above the rate of core inflation. RP Data-Rismark carefully estimates hedonicallyadjusted gross rental yields for all capital cities and the national market. Across Australia, units were yielding 5.0 per cent in August while houses generated 4.3 per cent. On a total return (capital growth plus rents) basis, Australian capital city dwellings produced a positive +0.2 per cent result in the month of August.
Change in dwelling values Month Quarter Region Seas Adj. Raw Seas Adj. Raw Syd 0.0% 0.4% -0.1% -0.7% Mel -0.2% 0.2% -2.3% -2.5% Bris -0.2% -0.2% -1.3% -1.8% Adel -0.4% -0.6% -1.7% -2.6% Per -2.0% -2.0% -3.8% -4.0% Dar 0.2% 1.0% -2.8% -3.3% Can -1.8% -1.4% -1.7% -1.8% Hob+ -0.8% 0.4% -0.2% 0.1% Capitals -0.4% -0.1% -1.4% -1.9% Regions* -0.9% -0.9% -1.7% -1.5% Total gross returns YTD YOY 3.4% 5.0% -2.0% -0.7% -1.6% -1.6% -1.8% -0.7% -2.0% -3.1% 1.8% 1.7% 2.8% 2.8% na na 0.2% 1.1% na na Median dwelling price $500,000 $462,000 $420,000 $370,000 $450,000 $420,000 $485,000 $320,000 $450,000 $321,000

YOY 0.3% -4.3% -6.1% -4.9% -7.1% -3.4% -2.1% -5.3% -3.2% -2.8%

+ Hobart data is based on the final July results, * Rest of state data based on results for houses

Best performing capital city: Sydney, with values down -0.1% (s.a.)
over the three months to August

Weakest performing capital city: Perth, with values down

-3.8% (s.a.) over three months to July

Highest rental yields: Darwin with gross rental yield of 5.3% for houses
and 5.8% for units

Lowest rental yields: Melbourne with gross rental yields of 3.7% for
houses and 4.3% for units

Annual change in dwelling values, year ending August 2011

RP DataRismark Home Value Index, Seasonally-Adjusted Results, All dwellings
2.0% 0.0%
-2.0%

0.3%
-2.1%

-3.4% -4.3% -4.9%

-5.3%

-3.2% -6.1%
-7.1%

-2.8%

-4.0%
-6.0%

-8.0% Sydney Canberra Darwin Melbourne Adelaide Hobart+ Brisbane Perth Australian Capitals Rest of state*

Source: RP DataRismark + Hobart data to July 2011 * Rest of state data based on results for houses only

Annual change in capital city home values vs. total returns

RP Data-Rismark, August 2006 to August 2011, All dwellings
25.0% 20.0% 15.0%
10.0%

Capital city home values

Capital city total returns

5.0%
0.0%

-5.0% Aug-06 Aug-07 Aug-08 Aug-09 Aug-10 Aug-11

Source: RP DataRismark

Media enquiries: RP Data: Mitch Koper 0417 771 778

Rismark International : Chris Joye 0414 980 264

National News Release

AUGUST NATIONAL INDEX RESULTS (Contd)
In pure capital terms, Australian capital city dwelling values have declined by -3.2 per cent over the 12 months to August 2011. However, accounting for rents, the total returns have been a positive +1.1 per cent over the year. Mr Kusher also highlighted the wide divergences in housing outcomes across Australia. In the 12 months to August 2011, Perth capital values fell by -7.1 per cent (s.a.). Yet in Sydney home values are up 0.3 per cent (s.a.). Total returns also vary markedly on a city-by-city basis. While Melbourne (-2.0 per cent), Perth (-2.0 per cent), Adelaide (-1.8 per cent) and Brisbane (-1.6 per cent) have all experienced negative total returns over the first eight months of 2011, Sydney (+3.4 per cent), Canberra (+2.8 per cent), and Darwin (+1.8 per cent) are in the black. Analysis shows that the premium sector of the market remains the most volatile. The most expensive 20 per cent of suburbs have recorded capital value (ie, exclusive of rents) falls of -5.5 per cent over the last year compared with a 3.1 per cent capital loss across the broad middle market and a -2.9 per cent capital loss amongst the 20 per cent of most affordable suburbs. Rismark economist, Christopher Joye, commented, For most of 2011 Australian households were expecting to get slammed with 2-3 additional interest rate hikes on top of the circa two hikes they bore in November last year. As a consequence of the US and European sovereign debt ructions, and a bump up in the local unemployment rate, interest rate expectations have swung 180 degrees. The financial markets are now pricing in nearly six rate cuts by June next year. Goldman Sachs, Deutsche Bank, Westpac and AMP are all forecasting RBA rate cuts this year. Former Gillard economic advisor, Stephen Koukoulos, says the RBA will cut rates in both October and November. As the most interest rate sensitive sector of the economy, Australias housing market will be the main beneficiary of any rate reductions. Almost all Australian mortgage debt is variable rate, and prices off the RBAs target cash rate one way or another. Importantly, consumers are starting to listen and have radically adjusted their views on the future cost of debt. According to NABs latest survey, only 20 per cent of people now expect interest rates to be higher in 12 months time compared to a stunning 70 per cent of people in June. This will likely provide support for housing sentiment. A number of leading indicators point to more positive portents: for example, Australias largest mortgage broker, AFG, reported the largest number of new housing finance applications in August for 18 months. For the record, we remain much more concerned about inflation than the financial markets, and think it is unlikely that the RBAs cash rate will fall to 3.5% or less over the next year. Mr Joye said. Ends. Media enquiries contact: RP Data: Mitch Koper, corporate communications manager on 0417 771 778 or mitch.koper@rpdata.com Rismark: Chris Joye, joint managing director on 0414 980 264 cj@rismark.com.au

Media enquiries: RP Data: Mitch Koper 0417 771 778

Rismark International : Chris Joye 0414 980 264

www.rpdata.com/indices

RP DataRismark Results (*Seasonally-Adjusted*)

Table 1 Capital growth to August 2011 (indicative) Month Quarter Year to date Year on year Median price* based on settled sales over quarter Capital growth to July 2011 Month Quarter Year to date Year on year Table 2 Capital growth to August 2011 (indicative) Month Quarter Year to date Year on year Median price* based on settled sales over quarter Capital growth to July 2011 Month Quarter Year to date Year on year Table 3 Capital growth to August 2011 (indicative) Month Quarter Year to date Year on year Median price* based on settled sales over quarter Capital growth to July 2011 Month Quarter Year to date Year on year Table 4 Sydney Rental yields Aug 2011 (indicative) Houses Units 4.4% 5.2% Melbourne 3.7% 4.3% Brisbane 4.7% 5.3% Sydney Melbourne 0.1% -0.1% 0.3% -0.8% 1.2% -4.4% 1.9% -2.1% $457,000 $421,800 Brisbane Adelaide 1.5% -0.5% 2.5% -3.4% -1.3% -5.3% -2.8% -5.7% $370,000 $320,000 Sydney Melbourne 0.0% -0.2% -0.3% -2.6% -1.5% -6.0% -0.5% -5.0% $552,000 $490,000 Brisbane Adelaide -0.5% -0.4% -2.0% -1.3% -6.0% -3.8% -6.7% -4.7% $435,000 $387,500 Sydney Melbourne 0.0% -0.2% -0.1% -2.3% -0.9% -6.0% 0.3% -4.3% $500,000 $462,000 Brisbane Adelaide -0.2% -0.4% -1.3% -1.7% -5.3% -4.0% -6.1% -4.9% $420,000 $370,000 All Dwellings Perth Darwin Canberra -2.0% 0.2% -1.8% -3.8% -2.8% -1.7% -5.5% -2.0% -1.1% -7.1% -3.4% -2.1% $450,000 $420,000 $485,000 Hobart+ na na na na $320,000 Australian Capitals -0.4% -1.4% -3.7% -3.2% $450,000

0.2% -0.1% -1.0% 0.5%

-1.5% -3.0% -5.8% -4.3%

-0.5% -1.6% -5.1% -6.4%

-1.0% -0.5% -3.6% -4.4%

-0.9% -2.1% -3.5% -5.7% Houses

-0.7% -3.0% -2.2% -5.3%

0.4% 0.3% 0.7% 0.8%

-0.8% -0.2% -4.4% -5.3%

-0.6% -1.5% -3.3% -2.9%

Perth Darwin Canberra -1.5% 0.2% -1.9% -3.5% -3.3% -2.0% -5.6% -2.0% -0.8% -7.2% -3.9% -2.3% $465,000 $416,000 $539,950

Hobart+ na na na na $336,500

Australian Capitals -0.4% -1.8% -4.2% -3.9% $470,000

0.1% -0.3% -1.5% -0.4%

-1.6% -3.3% -5.8% -5.0%

-0.8% -2.1% -5.6% -6.9%

-1.1% -0.7% -3.4% -4.1%

-0.9% -2.4% -4.1% -6.1% Units

-1.7% -3.0% -2.3% -5.2%

0.7% 0.0% 1.1% 1.1%

-1.4% -1.1% -6.1% -5.9%

-0.7% -1.8% -3.8% -3.6%

Perth Darwin Canberra -3.2% 2.8% -1.6% -4.8% -0.6% 1.5% -5.1% -0.3% -2.3% -6.6% -2.1% -1.5% $390,000 $420,000 $415,000

Hobart+ na na na na $257,250

Australian Capitals -0.2% -0.4% -1.3% -0.9% $416,000

0.3% -0.1% 1.2% 2.4%

-1.4% -2.1% -4.3% -2.2%

1.1% 0.5% -2.7% -3.6%

-0.7% -1.0% -4.9% -5.7%

-0.6% -1.2% -2.0% -4.1%

-0.7% -4.6% -3.0% -5.7%

-0.2% 1.8% -0.7% -0.8%

2.7% 3.2% 7.0% 1.7%

-0.2% -0.5% -1.2% -0.6%

Rental Yield Results Adelaide 4.2% 4.8% Perth 4.4% 5.0% Darwin 5.3% 5.8% Canberra 4.8% 5.4% Hobart+ 5.0% 5.3% Australian Capitals 4.3% 5.0%

** Seasonally-adjusted values were computed using the X12-ARIMA procedure developed by the US Bureau of the Census. The model was fitted to the logged values of the index, using an additive seasonal model with the automatically selected seasonal ARIMA model. Goodness of fit statistics and other diagnostics were all satisfactory. *The median price is the middle price of all settled sales over the three months to the end of the final month. Median prices are provided as an indicator of what price a typical home sold for over the most recent quarter. The median price has no direct relationship with the RP Data-Rismark Hedonic Index value. The change in the Index value over time reflects the underlying capital growth rates generated by residential property in the relevant region. The RP DataRismark Hedonic Index growth rates are not ordinarily influenced by capital expenditure on homes, compositional changes in the types of properties being transacted, or variations in the type and quality of new homes manufactured over time. The RP Data-Rismark index values are not, therefore, the same as the median price sold during a given period. See the methodology below for further details. + The inherently low sales volume recorded in Hobart, which is due to the small population base, gives rise to naturally higher levels of volatility. As a consequence preliminary results for Hobart are not made available. That is, the Hobart data lags by one month the other national results. Methodology: The RP Data-Rismark Hedonic Home Value Index is calculated using a hedonic regression methodology that attempts to overcome the issue of compositional bias associated with median price measures. In simple terms, the index is calculated using recent sales data combined with information about the attributes of individual properties such as the number of bedrooms and bathrooms, land area and geographical context of the dwelling. By deconstructing a property into its constituent parts a much more reliable and accurate representation of capital movements in property values can be calculated. RP Data owns and maintains Australia's largest property related database in Australia which includes transaction data for every home sale within every state and territory. RP Data augments this data with recent sales advice from real estate industry professionals, listings information and attribute data collected from a variety of sources. The hedonic methodology has been created by Rismark International and independently audited by both the Securities Industry Research Centre of Asia-Pacific ("SIRCA") and Moody's Economy.com. Both of these independent parties have declared the methodology to be an improvement over the quality of existing measures of house price movements in Australia. For detailed methodological information please visit www.rpdata.com Media enquiries: RP Data: Mitch Koper 0417 771 778 Rismark International : Chris Joye 0414 980 264

www.rpdata.com/indices

RP DataRismark Results (*Not Seasonally-Adjusted*)

Table 1 Capital growth to August 2011 (indicative) Month Quarter Year to date Year to date total return* Year on year Year on year total return* Median price* based on settled sales over quarter Capital growth to July 2011 Month Quarter Year to date Year on year Table 2 Capital growth to August 2011 (indicative) Month Quarter Year to date Year to date total return* Year on year Year on year total return* Median price* based on settled sales over quarter Capital growth to July 2011 Month Quarter Year to date Year on year Table 3 Capital growth to August 2011 (indicative) Month Quarter Year to date Year to date total return* Year on year Year on year total return* Median price* based on settled sales over quarter Capital growth to July 2011 Month Quarter Year to date Year on year Table 4 Sydney Rental yields August 2011 (indicative) Houses Units 4.4% 5.2% Melbourne 3.7% 4.3% Brisbane 4.7% 5.3% Sydney Melbourne 0.3% 0.0% -0.4% -1.6% 1.3% -3.5% 4.9% -0.7% 1.9% -2.2% 7.2% 2.1% $457,000 $421,800 Brisbane Adelaide 2.0% -1.6% 3.0% -4.9% 0.0% -5.2% 3.5% -2.2% -2.7% -5.8% 2.4% -1.3% $370,000 $320,000 Sydney Melbourne 0.4% 0.2% -0.8% -2.7% -0.3% -4.8% 2.6% -2.4% -0.5% -5.0% 3.9% -1.5% $552,000 $490,000 Brisbane Adelaide -0.7% -0.3% -2.7% -2.0% -5.6% -4.5% -2.6% -1.8% -6.7% -4.7% -2.4% -0.6% $435,000 $387,500 Sydney Melbourne 0.4% 0.2% -0.7% -2.5% 0.2% -4.5% 3.4% -2.0% 0.2% -4.4% 5.0% -0.7% $500,000 $462,000 Brisbane Adelaide -0.2% -0.6% -1.8% -2.6% -4.7% -4.6% -1.6% -1.8% -6.1% -4.9% -1.6% -0.7% $420,000 $370,000 All Dwellings Perth Darwin Canberra -2.0% 1.0% -1.4% -4.0% -3.3% -1.8% -4.8% -1.8% -0.6% -2.0% 1.8% 2.8% -7.2% -3.6% -2.2% -3.1% 1.7% 2.8% $450,000 $420,000 $485,000 Hobart+ na na na na na na $320,000 Australian Capitals -0.1% -1.9% -2.7% 0.2% -3.2% 1.1% $450,000

-0.2% -1.3% -0.2% 0.4%

-1.6% -4.0% -4.7% -4.3%

-0.6% -2.5% -4.5% -6.4%

-1.3% -1.6% -4.1% -4.4%

-1.1% -2.6% -2.9% -5.7% Houses

-1.0% -5.0% -2.8% -5.2%

-0.1% -0.6% 0.8% 0.7%

0.4% 0.1% -3.3% -5.2%

-0.8% -2.4% -2.6% -2.9%

Perth Darwin Canberra -1.8% 0.1% -1.5% -3.9% -4.0% -2.4% -5.0% -2.5% 0.0% -2.3% 1.0% 3.3% -7.3% -4.0% -2.3% -3.4% 1.1% 2.5% $465,000 $416,000 $539,950

Hobart+ na na na na na na $336,500

Australian Capitals -0.2% -2.2% -3.3% -0.5% -3.9% 0.1% $470,000

-0.3% -1.5% -0.7% -0.5%

-1.8% -4.3% -5.1% -5.0%

-0.8% -3.1% -5.0% -6.9%

-1.5% -1.8% -4.2% -4.1%

-1.0% -2.7% -3.3% -6.1% Units

-1.5% -4.7% -2.5% -5.1%

-0.2% -0.8% 1.5% 1.1%

0.1% 0.0% -4.2% -5.9%

-1.0% -2.7% -3.1% -3.7%

Perth Darwin Canberra -2.9% 3.6% -1.1% -4.6% -1.7% 1.1% -4.0% -0.1% -2.8% -0.9% 3.7% 0.8% -6.7% -2.4% -1.7% -2.1% 3.2% 3.7% $390,000 $420,000 $415,000

Hobart+ na na na na na na $257,250

Australian Capitals 0.0% -1.1% -1.1% 2.2% -0.9% 4.0% $416,000

0.0% -1.0% 1.0% 2.4%

-1.2% -2.9% -3.5% -2.2%

0.5% 0.2% -2.0% -3.6%

-0.4% -1.1% -3.7% -5.9%

-1.5% -2.1% -1.2% -4.1%

0.1% -5.9% -3.6% -5.5%

0.4% 0.2% -1.7% -0.9%

2.5% 1.3% 6.5% 1.9%

-0.4% -1.6% -1.0% -0.6%

Rental Yield Results Adelaide 4.2% 4.8% Perth 4.4% 5.0% Darwin 5.3% 5.8% Canberra 4.8% 5.4% Hobart+ 5.0% 5.3% Australian Capitals 4.3% 5.0%

*The "total return" is simply the sum of the capital return (ie, the change in the dwelling value) and the rental return. **The median price is the middle price of all settled sales over the three months to the end of the final month. Median prices are provided as an indicator of what price a typical home sold for over the most recent quarter. The median price has no direct relationship with the RP Data-Rismark Hedonic Index value. The change in the Index value over time reflects the underlying capital growth rates generated by residential property in the relevant region. The RP DataRismark Hedonic Index growth rates are not ordinarily influenced by capital expenditure on homes, compositional changes in the types of properties being transacted, or variations in the type and quality of new homes manufactured over time. The RP Data-Rismark index values are not, therefore, the same as the median price sold during a given period. See the methodology below for further details. + The inherently low sales volume recorded in Hobart, which is due to the small population base, gives rise to naturally higher levels of volatility. As a consequence preliminary results for Hobart are not made available. That is, the Hobart data lags by one month the other national results. Seasonally-adjusted values were computed using the X12-ARIMA procedure developed by the US Bureau of the Census. The model was fitted to the logged values of the index, using an additive seasonal model with the automatically selected seasonal ARIMA model. Goodness of fit statistics and other diagnostics were all satisfactory. Methodology: The RP Data-Rismark Hedonic Home Value Index is calculated using a hedonic regression methodology that attempts to overcome the issue of compositional bias associated with median price measures. In simple terms, the index is calculated using recent sales data combined with information about the attributes of individual properties such as the number of bedrooms and bathrooms, land area and geographical context of the dwelling. By deconstructing a property into its constituent parts a much more reliable and accurate representation of capital movements in property values can be calculated. RP Data owns and maintains Australia's largest property related database in Australia which includes transaction data for every home sale within every state and territory. RP Data augments this data with recent sales advice from real estate industry professionals, listings information and attribute data collected from a variety of sources. The hedonic methodology has been created by Rismark International and independently audited by both the Securities Industry Research Centre of Asia-Pacific ("SIRCA") and Moody's Economy.com. Both of these independent parties have declared the methodology to be an improvement over the quality of existing measures of house price movements in Australia. For detailed methodological information please visit www.rpdata.com Media enquiries: RP Data: Mitch Koper 0417 771 778 Rismark International : Chris Joye 0414 980 264

www.rpdata.com/indices

Background
The RP Data-Rismark Hedonic Indices benefit from exclusive access to the most comprehensive property database in Australia and NZ, which is owned by RP Data Limited (ASX: RPX). RP Data spends over $9 million annually collecting new property information and has amassed a database comprising over 140 million property data records covering 99% of dwellings. The RP DataRismark Index results are reported by the RBA in its Statement on Monetary Policy. The RP Data-Rismark Hedonic Indices have received considerable industry praise. In May 2009, CommSecs chief economist, Craig James, commented, The RP Data-Rismark index has emerged as Australias authoritative source on home price trends. The property database is Australias largest and, unlike the Bureau of Statistics, all properties are counted, not just free-standing homes. Macquarie Banks interest rate strategist, Rory Robertson, has also commented, RP DataRismarks monthly estimates are more timely and reliable than the ABSs quarterly readings. The RP Data-Rismark Indices have been independently audited by the Securities Industry Research Centre of Asia-Pacific ("SIRCA"), which is a not-for-profit financial services research organisation involving twenty-six collaborating universities across Australia and New Zealand. In its review of the RP DataRismark indices, SIRCA concluded:"...the results of our analysis indicate that the stratified median price, hedonic and repeat-sales property price indices developed by RP Data-Rismark represent a material improvement over the simple median price series that have historically predominated in the Australian market. In this regard, it is pleasing to see private sector organisations that are committed to undertaking sophisticated residential real estate research and advancing our otherwise crude understanding of this complex market. In addition to the SIRCA audit, Moodys Economy.com, which is a leading global economics research organisation, has also undertaken an extensive review of the methodology, data and procedures used by RP Data-Rismark to construct house price indices. The Moodys reports summary findings, which were authored by two economics PhDs, are as follows: The suite of indexes calculated by RP DataRismark represents a significant improvement in the quality of housing price statistics available in AustraliaWe look forward to seeing these indexes as they are released and believe that they will quickly take a central place in the macroeconomic data framework of AustraliaThese data are more sophisticated, detailed and have better coverage than that used in the construction of existing housing price indexes in Australia. The high quality of the data makes it possible to implement not only median price and repeat sales indexes but also hedonic indexes, which up to this point had proved difficult to construct in Australia due to data constraints. Other comments from the Moodys report include: Perhaps the most exciting methodological development is the introduction of hedonic price indexes to the Australian market. This approach to price index construction controls for compositional change by obtaining information on housing characteristics (e.g. bedrooms, bathrooms, land size, suburb, etc.)...

For more information on the RP Data-Rismark Indices, please go to http://www.rpdata.com Media enquiries contact: Mitch Koper Corporate Communications Manager rpdata.com 0417 771 778 mitch.koper@rpdata.com

Chris Joye Economist Rismark International Mobile: 0414 980 264 cj@rismark.com.au
RP Data RP Data is the number one provider of property information, analytics and risk management services in Australia and New Zealand. Backed by 30-years of innovation and data collection, RP Data is the holder of the largest and most up to date residential and commercial property databases amassing over 150 million records and growing. These comprehensive and timely databases are accessed by our sophisticated analytics to produce Australias leading home value index the RP Data Rismark index and to electronically value every residential property in Australia every week generating over 30 million valuations monthly. RP Data combines public, contributory and propriety data to develop predictive decision-making analytics, coupled with its business services that bring insight and transparency to property markets. RP Data is the leading provider of trusted solutions to the mortgage finance and property industries, government and consumers with over 100,000 users nationally. Recognised as a leader and innovator in the mortgage and property industries in its own right, RP Data is a subsidiary of the worlds largest property and mortgage data company CoreLogic (NYSE: CLGX) with revenues over $1.8Bn in 2010. Rismark International Rismark International ("Rismark") is a global funds management business that has expertise in the execution of sophisticated real estate research and investment strategies. Rismark also has a long history of advising Australian and overseas governments on the development of innovative economic policies as they relate to housing and financial markets. As a by-product of its quantitative research activities, Rismark has developed the technology and intellectual property underlying the market-leading RP Data-Rismark hedonic property price indices and related automated property valuation models (AVMs), amongst other things. In September 2008 the Australian Stock Exchange ("ASX") selected the RP Data-Rismark hedonic indices as the benchmark indices for the ASX's new residential property derivatives market. Rismarks management team is augmented by a Global Research Advisory Board comprising of eminent academics from Sydney University, Melbourne University, and Yale. For more information visit www.rismark.com.au.
Media enquiries: RP Data: Mitch Koper 0417 771 778 Rismark International : Chris Joye 0414 980 264

www.rpdata.com/indices