An Austinmer property with "gobsmacking" views has returned to the market, with a significant price cut.
The home is located at 5 Hillcrest Road, Austinmer.
Designed across three levels, the home features four bedrooms, a multitude of living and entertaining spaces, and a two-bedroom self-contained apartment.
The luxury home has been on-and-off the market for the past year-and-a-half and been listed for sale with different agents.
It was initially listed in April 2022 with a $4.9 million price guide. Later that year, the home had a guide of $4.5 million.
The new selling agent, Nathan Berlyn from Knight Frank Sydney said the home was re-listed via an Expressions of Interest campaign last week, and the owners were motivated to sell.
He said they were now encouraging offers above $4 million.
Mr Berlyn said the home boasted "some of the best views on the South Coast".
"With over 400 square metres of internal living, great elevated views up towards the north-east and getting the escarpment and the full coastline, there's not many offerings like this," he said.
Mr Berlyn said there had been early interest from buyers who were actively looking to purchase waterfront properties.
"I think where it's being guided at now is meeting the market, based on what I'm seeing on the market," he said.
"I think it's a property that's still very much a blank canvas for someone to come in and do work to, bring up to their liking... And those views are incredible.
"I haven't gone through a property as yet along the South Coast that has views that are as good as this."
Katrina Rowlands and husband John have owned the home for more than 20 years, having relocated from Corrimal.
She told the Mercury last year they were drawn to the property by its "gobsmacking" views.
"It's by far, in my opinion, the absolute best view on the entire east coast of the Illawarra," she said.
"I refer to it as my 'wet edge' house. The minute you open the front door, you see the ocean and the blue, and the appeal of the amazing coastline.
"You feel like you're standing on the edge of the world, and looking out to the water. It's just gorgeous."
Mrs Rowlands said they had "pretty much turned the home inside out, and renovated it from the inside and the outside".
According to CoreLogic, currently the median sales price of houses in Austinmer is $2.4 million.
At the time this listing first went on the market, this figure was $2.2 million.
The home's upper-level features pitched ceilings with exposed beams, timber flooring, open plan living and picture windows, showcasing uninterrupted panoramic views of the ocean and coastline.
The master suite enjoys direct ocean views with an oversize custom designed walk-in robe.
On the middle level is the two-bedroom self-contained apartment equipped with a full kitchen and butler's pantry, modern bathroom and 180-degree ocean views via the enclosed balcony.
On the lower level is a space with a bathroom, fourth bedroom and expansive deck.
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