The median price for 2009 for Augusta-Margaret River properties was $444,000, down from the 2008 median price of $485,000.

For the full year from December 2008 to 2009, there were 175 houses sold in the shire, the highest price being $1.7 million.

The breakdown shows 141 properties sold in Margaret River, 12 in Augusta, five in Cowaramup, six in Gnarabup and five in Gracetown.

The most recent date on the December quarter (October, November, December) had 44 sales in Augusta-Margaret River.

The median price for that quarter was $438,250, a three per cent increase on September prices.

The price was the first decrease in years, with past median prices being $485,000 in 2007, $450,000 in 2006, $370,000 in 2005, $290,000 in 2004 and $240,000 in 2003.

For December 2008 to 2009, the median price for a three-bedroom house in Margaret River was $405,000.

For one to two bedroom houses, the median price was $440,000 and for five-plus bedrooms, $555,000.

Growth rates for the shire in the past 10 years have been 9.9 per cent, with regional WA at 11.7 per cent.

REIWA said the property market is bouncing back in Perth, Kalgoorlie-Boulder, and Karratha as median house prices reach new records.

The December quarter saw strong growth across the State for both units and houses, with the Perth median house price reaching a new high of $480,000.

REIWA president Alan Bourke said this was $5000 higher than the previous level reached in December 2007 when the property boom was at its peak.

“Demand pressure on more affordable units, apartments, villas and townhouses saw this section of the market achieve 15.3 per cent growth in 2009,” he said.

“This was probably due, in part, to the surge of first home buyers who were encouraged by the Federal grant to enter the market.”

In much of regional WA it was a similar story.

Some 13,100 properties changed hands during the quarter, down by 8 per cent on September, but not considered unusual given the slowdown into the Christmas holiday period.