The Real Estate Institute of WA released the median house price figures for the June quarter last week, revealing the Greater Bunbury median as $360,000.

The figure is 4.3 per cent up on the March quarter. However the figure is still 2.7 per cent below the figure for the same time last year and $20,000 below the June 2007 median.

Suburbs up on the June 2008 figures were Bunbury, College Grove and Dalyellup.

For the most part though, prices remained below the June 2008 median.

With prices remaining low, more people are holding on to their properties.

The number of houses and units listed with local agents has dropped to a 12 month low.

The market dropped by 41.5 per cent from 1574 down to 921.

Harcourts managing director Richard Morgan said there had been a 12 month low in house prices.

"A lot of people are reluctant to sell because they are not sure they are going to get the price they ask," Mr Morgan said.

"And with interest rates being so low people are refinancing, the cost of holding on to a property is so much cheaper." Mr Morgan said the decreasing house numbers could start to influence prices.

He predicted prices would not drop any lower than what they had been and the market was starting to change.

Mr Morgan said the market had started to become competitive earlier than usual, with general enquiries increasing before the usual spring season. He said ultimately Greater Bunbury could see a swing back to a seller’s market from a buyer’s one.