050/11200 Iona Ingewrient inns GBP 1201 I2040 I I 2011 2012 2013 Sete • DpaLlp &Pit SO0nberg &.,C* LLP IEURIGBP Holding Up Better on Back of Flovv i EUR/GBP (6m lag. Ihs) RICS House Price Balance (rhs, inverted) 1 0.9 0.8 0.7 0.6 1 0.5 12( 94 96 98 00 02 04 06 08 10 12 J - 130 6