1 - SALES LIST. Summary. Contents. Report produced: 09 January 2009

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1 Summary The Postcode Explorer contains a list of all House sales from the Residex database over the last 12 months for postcode This covers the suburb(s): FLEMINGTON, KENSINGTON The Median Value at the end of last quarter was $599,500. There were 297 sales over the last 12 months. Report produced: 09 January 2009 Contents 1. Sales List 2. Extremes Lists High Cost Extremes List Low Cost Extremes List 3. Investment Return Information 4. Definitions of Terms 5. Common Misunderstandings and One Last Thing 1 - SALES LIST Legal Disclaimer Sales List Address Area m 2 Beds Transfer Today's Sale Price Date Estimate 62 ASCOT VALE RD FLEMINGTON $489, ASCOT VALE RD FLEMINGTON $423, BRYANT ST FLEMINGTON $861, BIGNELL ST FLEMINGTON NA $505, BIGNELL ST FLEMINGTON $589, BRYANT ST FLEMINGTON $650,200 6 CORONET ST FLEMINGTON $464,300 8 CORONET ST FLEMINGTON $460, CLARENCE ST FLEMINGTON $605, CORONET ST FLEMINGTON $575, CORONET ST FLEMINGTON $545, CORONET ST FLEMINGTON $499, DOVER ST FLEMINGTON $773, DOVER ST FLEMINGTON $751, DOVER ST FLEMINGTON $612,900

2 58 DOVER ST FLEMINGTON NA $682, DOVER ST FLEMINGTON $674,800 6 EDINBURGH ST FLEMINGTON $568, EDINBURGH ST FLEMINGTON $409, EDINBURGH ST FLEMINGTON NA $475, EDINBURGH ST FLEMINGTON $549, EDINBURGH ST FLEMINGTON 4, $515, FINSBURY ST FLEMINGTON $650, FARNHAM ST FLEMINGTON $733,000 1 ILLAWARRA RD FLEMINGTON $843,300 2 ILLAWARRA RD FLEMINGTON $410, ILLAWARRA RD FLEMINGTON $674, ILLAWARRA RD FLEMINGTON $779,100 8 JOHN ST FLEMINGTON $481, JOHN ST FLEMINGTON $563,800 List Range:$287,800 to $1,029,300 [Note: While we would love our data to be perfect, it's inevitable that out of millions of records, some are going to be incorrect or contain errors. So if, while looking at these properties, you find a value that you feel couldn't possibly be correct, please just cross through that address and ignore it.] Properties marked as 'Recent' have not yet been validated by comparison with data from the relevant government source, but have rather been gathered directly from a Real Estate Agent. We do not provide current-day estimates for recent sales. Sales List Address Area m 2 Beds Transfer Today's Sale Price Date Estimate 137 KENT ST FLEMINGTON $409, KIAMA RD FLEMINGTON NA $644,800 5 MARSHALL ST FLEMINGTON $458, MARSHALL ST FLEMINGTON $741,700 2 MARWICK ST FLEMINGTON $594,300 1 OAK ST FLEMINGTON $708,200 3 OAK ST FLEMINGTON $548,000 7 PRINCES ST FLEMINGTON $758, PIN OAK CRES FLEMINGTON $457, PIN OAK CRES FLEMINGTON $501, PIN OAK CRES FLEMINGTON $540, PIN OAK CRES FLEMINGTON $535, RAILWAY PL FLEMINGTON $313,200

3 77 RAILWAY PL FLEMINGTON $668, RAILWAY PL FLEMINGTON $502, RACECOURSE RD FLEMINGTON NA $489, RACECOURSE RD FLEMINGTON $483,500 7 STURT ST FLEMINGTON $584, SHIELDS ST FLEMINGTON $505, STURT ST FLEMINGTON $613, SHIELDS ST FLEMINGTON $697, SHIELDS ST FLEMINGTON $526, SHIELDS ST FLEMINGTON $469, SHIELDS ST FLEMINGTON $596, SHIELDS ST FLEMINGTON $603,000 9 VICTORIA ST FLEMINGTON $515, VICTORIA ST FLEMINGTON $365,500 3 WALTHAM ST FLEMINGTON $432, WISEWOULD ST FLEMINGTON NA $550, WISEWOULD ST FLEMINGTON $468,900 List Range:$287,800 to $1,029,300 [Note: While we would love our data to be perfect, it's inevitable that out of millions of records, some are going to be incorrect or contain errors. So if, while looking at these properties, you find a value that you feel couldn't possibly be correct, please just cross through that address and ignore it.] Properties marked as 'Recent' have not yet been validated by comparison with data from the relevant government source, but have rather been gathered directly from a Real Estate Agent. We do not provide current-day estimates for recent sales. Etc.

4 3 - INVESTMENT RETURN INFORMATION The following is a picture of property values across Melbourne. It allows you to understand your property's value compared to other properties in Melbourne. Investor Tip: Don't concentrate solely on tax. If you do, you will miss the "main game" which is investing in the best property to deliver the maximum possible growth and/or rental and paying the right price for the property. Definition The Recent Past Median Values (End of Last Quarter): Area Amount $ The Capital City $482,000 The Postcode 3031 $599,500 %pa Rental Return is calculated in terms of the following: [(Weekly Rent x 52)/Value of Property] x 100 Where: Weekly Rent is equal to the median rental amount and Value of Property is equal to the median value for the respective area for which the Rental Return is being calculated. Median Rentals (Last Quarter) Area Amount $ % pa Rental Return The Capital City $ % The Postcode 3031 $ %

5 Historical Returns Capital Growth Area 3 years ago 2 years ago 1 year ago The Capital City 5.5% 14.6% 9.7% The Postcode % 18.9% 12.9% Predicted Future Key Predicted Economic Factors - Postcode Factor % p.a. next 5 years Price Growth XX% XX% Rental XX% XX% Rate of Inflation (CPI) 4-6% 6-8% Home Loan Rate 6-8% 6-8% % p.a. next 8 years Comment Predicted Future - Nobody knows what the future holds. The housing market may surge over the next year. It may drop. Interest rates could be raised, they could be lowered. There are countless possible futures that may unfold. Obviously, some of these possible futures are more likely than others. The housing market might double in value next year, but it is more likely that it will grow at a steady rate. Interest rates could go to 20%, but it's more likely that they'll go to 15% and it's more likely again that they'll go to 10% and so forth. So we have a variety of possible futures that may unfold, all with differing degrees of likelihood of occurring. What Residex does is examine historical trends in the market, looking for indicators of the likelihood of each of the possible futures, given where the various markets are today. Once we find these indicators, we use them to measure with some degree of accuracy the likelihood of each possible future and then provide the most likely future as our prediction. What does this mean? Firstly, it means that we will sometimes be wrong. No doubt about it. Because sometimes the most likely future simply does not occur. This is why lotteries exist. After all, the most likely outcome of playing the lottery is that you will lose. But many people play anyway, because there is a chance (however slim) that the likely future will not occur and they will win.