@northbeachapps has the best solution but there's been some confusion over how it is done.
Found a Solution:
To connect an IBOutlet to a property, right click on the element in IB you wish to connect. The connections inspector pops up. Then click on the + sign next to New Referencing outlet and point-drag to the File's Owner. A list of the properties defined in your .h file appears. Click on the property to connect. Same for IBActions.
This is not as intuitive as the drag-point to the property in your .h file, but it seems to work.
The "Files Owner" bit had me, and a few others, confused as to what it meant.
Easier to explain with a picture I think.
Replying to northbeachapps post wouldnt allow me to attach a picture hence this repost.
This is where you drag it to:
Topic:
Developer Tools & Services
SubTopic:
Xcode
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