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.