More than 1000 homes are set to go under the hammer this weekend across another two big days of auctions in Melbourne.
The Real Estate Institute of Victoria (REIV) are predicting 1,040 auctions will take place in 278 suburbs across the state this weekend.
While the number of auctions this weekend is slightly down on the figures from the same time last year (1,132 for the corresponding weekend), auction volumes in Victoria have continued their growth.
Since the state’s last auction boom in 2010, auction volumes in the year to date have risen by 14% according to the REIV, with 12,500 auctions held so far this year compared to 11,000 held in by this time 2010,
The top suburbs which have more than doubled in auction volumes over the past five years are Rosebud, Craigieburn
, Clayton, Blackburn South, Vermont South and Epping.
This weekend’s top auction locations are Richmond (19 auctions) and Port Melbourne (18 auctions), followed by Brighton East and South Yarra who have 17 each.
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