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The ink has dried on the settlement papers for a $7 million modernist riverside residence in the tightly held enclave of Peppermint Grove, Perth’s wealthiest suburb.
Philanthropist and National Living Treasure Janet Holmes a Court purchased the Forrest Street house from prominent barrister and former president of the Western Australian Bar Association, Stephen Davies SC.
The galley-style kitchen. Credit:Domain
Completed in 2021, the glass and steel single-level property on a 851-square-metre block was designed by architect Seymour Clifford.
It has five bedrooms, three bathrooms, a marble-detailed ensuite and central courtyard with a pool and “reflection pond”.
The galley-style kitchen has three ovens, two dishwashers and a gas cooktop.
The 3.4-metre ceilings provide wall space for the art lover to display her collection, which currently has around 5000 registered artworks.
Holmes a Court, 78, is chair of Heytesbury Holdings, one of the country’s biggest beef producers.
Ray White Cottesloe Mosman Park real estate agent Jody Fewster said the home was a one-of-a-kind masterpiece and “perfect downsizer”.
She said recent high-end property transactions in Perth’s affluent western suburbs signalled rate hikes were defying trends seen in the eastern states.
“Finished properties are still attracting a premium, we have not seen a fall-off in that market,” she said.
“Homes that require work are taking longer to sell, but prices haven’t dropped yet.
The home’s central courtyard with “reflection pond”. It also has a pool. Credit:Domain
“Perth prices are holding.”
Fewster said a lack of supply in the market coupled with strong positive net migration homes would keep the market buoyant.
Shifting the spotlight to other high-end sales in Peppermint Grove also pointing to market confidence, Australasian Fittings & Flanges managing director Grant Mortimer and partner Vanessa Mortimer have emerged as the buyers of a $4.8 million 1950s house on The Esplanade.
Another recent sale on The Esplanade netted $17 million.
CoreLogic reported a further fall in housing values through the first month of spring, with the national Home Value Index recording a 1.4 per cent decline in September.
Housing value falls accelerated in Perth, but it was only a mild reduction (0.4 per cent) relative to other capitals.
Sydney continues to record the largest falls, with housing values now down 9 per cent or $104,300 below the city’s January 2022 peak.
CoreLogic’s national research director Tim Lawless said Perth properties were holding their value much better than other capitals and it was one of the most active markets since the rate rises.
This 1950s home in Peppermint Grove sold for $4.8m. Credit:Domain
“The fastest selling markets through the September quarter are very much concentrated in Perth, with suburbs north of the city recording a median time on market of just 15 days,” he said.
“South East Queensland’s Toowoomba was the only region outside WA to make the top 10, averaging 22 days on market.”
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