A new iPhone app that gives users immediate and detailed data on property values of houses in Australia has the potential to make the home-buying process easier but may raise the ire of residents eager to protect privacy in their neighborhoods.

The free app, launched by the Commonwealth Bank, allows users to find out the most recent sale price and selling status of almost any home at which the user points an iPhone. The app then links to realestate.com.au when it finds a house on the market, providing the layout and photos of the home. It covers 95 percent of homes in the country and allows users to access historical data from property analytics firm Rpdata that is usually only retrievable for a fee.

The Commonwealth Bank developed the app to protect consumers from sellers who might artificially try to inflate the value of the properties up for sale.

James Sheffield, general manager of mortgage wealth with the Commonwealth Bank, said that "This will give buyers a much better understanding when going into the purchasing process, and give sellers more realistic expectations."

Though according to Sheffield most of the information is can already be accessed on public websites, some privacy advocates have raised concerns about the kinds of data that the app makes available.

Geordie Guy of Electronic Frontiers Australia said that much of the publically available data the app uses may have previously been much more difficult to fine. He also warned that "many people may not be comfortable with others wandering around their neighbourhood with their phone in the air, looking like they are taking video footage."

Alternately many real estate agents have expressed a positive opinion of the app, claiming that it will assist consumers who otherwise would have had to wait much longer for a report containing similar information.