Sydney chalked up its highest clearance rate on record over the weekend during one of the biggest auction days of the year. Despite the New South Wales state election being held on the same day, the pre-Easter weekend saw Sydney achieve a clearance rate of 87.5 per cent for more than 1100 auctions, according to Domain Group.

Strong results were recorded nation-wide. According to preliminary figures from Domain, the national clearance rate was 80 per cent. In Melbourne, it was 79 per cent, while Brisbane saw 46 per cent and Adelaide saw 63 per cent.

In Melbourne, Kay & Burton South Yarra held an auction on Saturday in one of the city's famed bluestone alleyways, Oliver Lane. A large crowd gathered for the auction of a 50 sqm one-bedroom apartment located at 11/140 Flinders St. A week prior to the auction, Kay & Burton Sales Consultant Nathan Verwoert said they expected interest in the high $300,000s. On the day, Verwoert said the reserve price was around $420,000 and $430,000. The bidding began at $390,000 and when an offer was made at $510,000, Kay & Burton Auctioneer Gowan Stubbings sought advice from the vendor who accepted the final bid and sold the property.