23 April 2010: 

Building on Commonwealth Bank’s vision of banking in 2013, the Group is announcing its next digital innovation with the release of its iPhone augmented reality application for anyone buying or selling a home, or simply looking to keep on top of the property market.

The new iPhone application will take property search to a new level, revolutionising the way home buyers search for a home allowing them to make smarter property decisions with virtual reality insight in to any Australian home anywhere, anytime.  

The technology is supported by two industry leaders realestate.com.au, the nation’s number one property portal and rpdata.com, Australia’s leading property information and analytics company.

The core functionality of the application utilises ‘augmented reality’ where rich data including past sales history (on more than 95 per cent of properties in Australia), current property listings and recent sales, is mapped on to a real world view through the iPhone’s camera.

Users can also switch to a list or bird’s eye view to pull in insights on properties matching their search criteria. Home hunters can then track their ‘dream house’ in their favourites, send to a friend and make informed decisions with access to detailed suburb profiles revealing demographics, median price, property hotspots and capital growth trends.

According to Mark Murray, General Manager Consumer Marketing, “We are leveraging new technology and continually innovating to deliver convenient, relevant and real-time services to make buying a home easier.

“As Australia’s biggest home lender we have teamed up with rpdata.com and realestate.com.au, to help Australians make an informed decision when it comes to making their biggest financial commitment.

“The new iPhone application will be an industry first in Australia.  Home buyers and sellers can easily access a host of customised information, tools and insights on every home in Australia – for free.

“The application is a significant milestone in our 2013 vision of banking, bringing virtual reality property search to customers right here, right now,” added Mr Murray.

A video demo of the iPhone augmented reality application will be available next week with the application available for download from the Apple App Store, coming soon.