An absolute oceanfront home with beach access at Wombarra has returned to the market with a significantly reduced asking price.
The property was listed for sale in February, with a price guide of $5.6 million.
It's now for sale with a price guide of $4.5 million to $5 million.
Selling agent, Vanessa Denison-Pender from McGrath said the owners were motivated to sell the property, "so we've got the price down to hopefully a price-point that's attractive to the market".
"It will be interesting to see if some of the homes in the area that are priced over the $5 million mark do sell in the current market," she said.
The price cut comes as some of Wollongong's most expensive suburb see a drop in prices.
According to CoreLogic, as of March, the median sales price of houses in Wombarra was $1,900,000.
This figure peaked at $2,103,750 a year earlier.
Among other in-demand Wollongong northern suburbs, the median sales price of houses in Thirroul as of May was $1,745,000. This figure peaked at $2,025,000 in May 2022.
The Wombarra property, which had been held by the same owners for 30 years, has attracted interest from local and Sydney buyers, with some viewing it as a potential weekender and others a permanent home.
"It's a classic older-style beachhouse," Ms Denison-Pender said.
The home, which was temporarily taken off the market during winter ahead of a spring return, is due to be auctioned at a yet to be announced date.
It features four bedrooms plus home office/study, as well as multiple indoor and outdoor living spaces.
There's also a separate studio/storage adjoining the property, once a garage and now used as an artist's studio.
CoreLogic records show the home sold in July 1991 for $280,000, and in March 2006 for $1,500,000. However, the latter was an off-market sale.
"The initial part of the house was about 100 years old, and then they'd added on to it... When we moved in, an extension had been done, but things needed renovating and fixing up," the current owner of 609 Lawrence Hargrave Drive, Karen Jeffery recently told the Mercury.
"We've done a lot of work putting in balconies, replacing things, new sliding doors. We've done a lot of work on it.
"This is a more traditional style beach house, as architects have built some modern stuff along here. I prefer that it's that classic style, with timber doors, high ceilings, weatherboard."
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