Investor Presentaiton

Key drivers of house prices expected to remain benign % 12 % Unemployment 18 Mortgage rates 11 10 9 80 7 6 39 5 4 90 92 94 96 98 00 02 04 Investor Presentation 16 14 12 10 8 16 4 90 92 94 96 98 00 02 04 Source: economics@anz ANZ

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