Figures for the September 2009 quarter were released on Friday and showed the median house price for Greater Bunbury was $352,000.

The figure put the area’s growth rate in the negative at -3.6 per cent.

However REIWA Bunbury’s spoke-sperson Roslyn Ierace said the yearly change in growth rate should not cause too much alarm.

“Anything to do with housing is a long term thing,” Ms Ierace said.

The growth for Greater Bunbury over five years is 13.7 per cent and 10.6 per cent over a 10 year period.

“Don’t be surprised by a quick growth spurt and don’t be disappointed with a sudden drop,” Ms Ierace said.

While median prices for Greater Bunbury have dropped steadily since 2007 Ms Ierace said she expected a boost in the market for the next quarter fuelled by first homebuyers and end of year transfers for professions such as doctors and teachers.

Ms Ierace said after the first homebuyer grant drops down to about $7000 and with interest rates expected to rise again, 2010 could see some changes.

“It will be interesting to see how we go next year,” Ms Ierace said.

“We’ve seen minimal amounts of mortgage stress so far.”