Narwee one bedder Sydney's cheapest auction sale

Narwee one bedder Sydney's cheapest auction sale
Narwee one bedder Sydney's cheapest auction sale

Sydney’s most affordable property reported sold at weekend auction was a one bedroom apartment in Narwee, in the southern suburbs.

The top floor 5/33 Graham Road unit sold for $325,000 through L.J Hooker Riverwood, according to Australian Property Monitors, under instruction from NSW Trustee & Guardian.

The 1986 block's last and highest previous sale was $319,000 when a one bedroom apartment sold earlier this year, and then was put up for $310 a week rental. Based on these figures the sale would reflect a yield of about 5%.

The median price for an apartment in Narwee is currently $421,000, which is a down from last year's price spike of $550,000 an apartment.

The median asking rent for apartments in Narwee is currently $380 a week, according to RP Data. 

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