The state election was no turn-off for Sydney buyers hoping to snap up a property on Saturday with the capital city recording its highest clearance rate on record.

The 87.5 per cent clearance rate was achieved on what was officially Sydney’s busiest day of auctions with 1128 properties listed.

More than $1 billion worth of Sydney property sold on Saturday. The Domain Group’s senior economist, Dr Andrew Wilson, said he was ‘‘absolutely astonished’’.

‘‘This could not have been rationally predicted – the highest clearance rate on the biggest auction day ever. This is the hottest of hot auction markets ever,’’ he said.

On Friday, Belle Property Wollongong’s auction campaign for 14 properties came to end, with four selling before auction and eight of the remaining 10 selling under the hammer.

This included a four-bedroom home at 86 New Mount Pleasant Road, Mount Pleasant which sold for $1.12 million.

Belle Property Wollongong director Darren Kay said two more properties sold by private treaty on Friday, including a six-bedroom house on 3.5 acres at Calderwood for $1.455 million, giving his agency a $12 million week.

Mr Kay said there was extremely strong interest in many of the properties which was driving prices upwards.

‘‘We had one property, a three-bedroom house at 9 Byarong Avenue, Mangerton which had 100 inspections,’’ Mr Kay said.

‘‘The price feedback we were getting was mid 600s and it was given a high reserve of $690,000.

‘‘On the day we had 21 registered bidders and it sold for $830,000.’’

Mr Kay said a two-bedroom unit on 556 square metres of land in Steel Street, Cringila was given a reserve of $230,000 having last traded in 2012 for $196,000. It sold at auction for $285,000.

Mr Kay said in his opinion the main factor driving the Illawarra market was the low interest rates and the flow from the Sydney market.

Last year he felt the market would start to slow at the end of 2015, now he expects the interest to continue well into 2016 unless something dramatic happens in the meantime.

‘‘The reality is the Sydney market is unaffordable for the Illawarra and South Coast,’’ Mr Kay said.

‘‘We are seeing a lot of interest from people in places like Sutherland, Camden and Campbelltown.

‘‘People can buy a house between Helensburgh and Kiama that is five minutes to the beach for what they can get in the western suburbs of Sydney.’’

Meantime, 12 of 24 lots in a new land release near the Jamberoo township on Wyalla Road sold on the weekend.

The subdivision is known as Brookwood Estate.

Peter Taranto Real Estate sales consultant Rob Austin was hopeful another six would sell this week.

Lots ranged in size from 850 square metres to 964 square metres and sold for between $365,000 and $465,000.

Mr Austin said expressions of interest were being taken for the seniors living component of the project.