The new iPhone home application allows users to make property decisions with virtual reality insight in to any Australian home anywhere, anytime.

The core functionality of the application utilises ‘augmented reality’ where data including past sales history (on more than 95% 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.

Mark Murray, general manager of consumer marketing at Commonwealth Bank, said: “As Australia’s biggest home lender we have teamed up with and, to help Australians make an informed decision when it comes to making their biggest financial commitment.

“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.”