Set on a quiet leafy street, just minutes from Cottesloe Beach, it stands out from its more modest traditional residential neighbours with its boxy exterior, bold linear lines and sophisticated interplay of glass, marble, travertine and concrete.

Seamlessly blending expansive indoor and outdoor living spaces and oriented to the north to capture the best of the West Australian natural light, it is located just minutes from North Cottesloe Primary School and within the heart of Perth's premier private school district.

Selling agent Tonia McNeilly of TM Residential said the Gordon Street residence was a stunning example of sophisticated design that would be at home in any one of the leading cities in the world.

"It really is a world away from your average family home in the suburbs and just offers an exceptional lifestyle, that while luxurious and inviting, can easily be transformed into a versatile lock up and leave," she said.

"The use of natural light, the sheer scope and proportion of the living spaces and the attention to detail in terms of finishes and fixtures really make it a stand out home for the Cottesloe area."

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She said its location, "virtually walking distance to everywhere - the Napoleon Street shopping strip, North Cott Primary, the beach, public transport and within ten kilometres to the Perth CBD," added to its appeal.

"I'm finding it's appealing to professional couples, to expats, and to interstate and international buyers, all of whom can appreciate its simple but beautiful design and use of space and position."

Ms McNeilly said with only three bedrooms, it has not been designed with larger families in mind but would easily adapt itself to those with one or two children, or to couples or singles who are looking for an exceptional home with nothing left to be done except move in and enjoy the superb beachside lifestyle it offers.

With a nod to the luxurious aesthetic of Balinese- style architecture, the plunge pool and water feature add an element of resort style luxury to this commanding, modern home.

Ms McNeilly said though Cottesloe would always remain impervious, to an extent, to the more extreme fluctuations in the local market because of its exceptional beachfront location, it had not been immune to the impact of the resources slow down.

Domain Group data shows the Cottesloe market has rebounded from a median house price of $1.7 million in September 2016 to $2 million in September this year.

Unit prices, in line with what is currently being experienced across the Perth CBD and inner suburban ring, have been slower to rebound due to over supply and high vacancy rates and have dropped back from $750,000 to $740,000 over the same period.

Chris Shellabear, principal of Cottesloe-based Shellabear Real Estate, said Cottesloe naturally experienced a surge during the summer months when beachside locales were at their best.

He said that while many still believed that the Perth property market tended to grind to a halt during the festive season, it could be an ideal time to sell for home owners in areas in the upper end of the market which experienced an influx of tourists and expats in town for the summer, while locals found themselves with more time to have a good look at what was available.

Mr Shellabear said he was seeing plenty of movement in the Cottesloe market as buyers from areas outside Cottesloe started noticing that the gap to purchase was narrowing as the market moved upwards.

He said there were some interstate and overseas buyers also moving on Cottesloe - "mostly expats moving home" - however the majority tended to be local buyers within a three kilometre radius.

"I think, in terms of the western suburbs market, 2016 definitely proved the bottom, and sales in Cottesloe this year have reflected that," Mr Shellabear said.

3 Gordon Street, Cottesloe is for sale through TM Residential, with offers around $2.1 million.