Araucaria - a Mediterranean-inspired estate in the hills outside of Byron Bay - has been listed on the market for quite some time. 2 1/2 years, to be exact. But it draws particular attention from the Radical Terrace today for the epic price chopping it’s endured. Starting with an optimistic (but seemingly reasonable) price of $6m, the home now seems to be priced at around replacement value at $2.9m. Considering the buyer’s paid $880k for the vacant lot in Aug 2004 and likely spent a sum more than twice that constructing the house, they will likely be disappointed with the final sale price…when it does sell.
The 5-bedroom home sits on just shy of an acre of land with well-designed landscaping, a pool, 2-bedroom casita, and plenty of outdoor entertaining space. Views to the Pacific in the distance top off the offering. It comes as no surprise that the home is advertised as a holiday rental as well. We imagine it ought to quickly find a buyer, unless there is something we don’t know about the home.
The listing: Araucaria, 210 Balraith Lane, Ewingsdale