Could Garth Barnett's Red Head villa sale be the bellwether for a NSW coastal home revival?

Just maybe the seriously slow NSW coastal market is set to finally end its post-gfc depression.

The bellwether sale might be Villa Palma, the NSW mid-north coast holiday house of interior designer Garth Barnett, which has been sold for about $1.6 million.

It's been bought by an expatriate London based banker who, perhaps aided by the currency shift, is ahead of the curve given lengthy local NSW buyer hesitation for any debt-laden second home acquisitions.

With views of Diamond Beach, a nature reserve and the hinterland, the Mediterranean-style Red Head house was designed for entertaining.

It has large, open-plan living and dining areas that flow out to terraces, courtyards and the swimming pool.

Its been fitted out with massive carved antique doors from India and stone works from Java and Bali and inlaid cabinetry from Morocco.

It was listed for sale at $1.85 million six months ago through Richard Cooper of Raine & Horne Double Bay inconjunction with Bob Gould of Tallwoods Real Estate.

The property is about a 15-minute drive north of Forster, three hours north of Sydney.

"Villa Palma has been created for those who appreciate style, luxury and privacy," the marketing says.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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