Median house prices across Greater Bunbury have dropped 2.6 per cent, with Bunbury, Dalyellup and College Grove among the hardest hit.

Bunbury dropped in value by $62,505, or 11.1 per cent, in the last financial year. Dalyellup dropped by $32,000, or 7.3 per cent, while College Grove dropped a staggering $66,000 or 15.9 per cent. Greater Bunbury has dropped $10,000, or 2.6 per cent.

In the same period median house prices across regional WA grew by 4.6 per cent and the Perth metropolitan area by 1.8 per cent.

The Greater Bunbury figures were among the worst in the State and increase the pressure on homeowners in the region.

Real Estate Institute of WA Bunbury spokeswoman Roslyn Ierace said homeowners may be suffering.

“Those that bought at the height of Bunbury’s boom may be suffering if they have to sell,” she said.

Ms Ierace also said the number of sales in Greater Bunbury were down.

“So far this year we have only achieved a third of the sales we did in the previous calendar year,” she said.

Coupled with the drop in house prices has been a dramatic increase in the length of time it takes to sell a property in Greater Bunbury.

People trying to sell their homes are having to wait up to a month longer compared to 2006 figures.

The average length of time a house was on the market for in 2007 was 94 days. In 2006 the average was 70 days. So far this year the average is 110 days, an increase of 36 per cent on 2006 averages.

The June quarter average for the Perth metropolitan area was 74 days.

There were two suburbs in Greater Bunbury that bucked the downward trend.

Australind and Gelorup both saw increases in median house prices in the past 12 months.

Gelorup increased $31,000 or 5.7 per cent. Australind gained $400 or 0.1 per cent.