The previous record for auctions held in a single weekend was set in November 2015 when 1,712 auctions were held.
A remarkable 1,826 auctions are scheduled for this Saturday alone with around 75 auctions being held on Sunday, including the five Block properties.
In total, 1,935 homes will go to auction this week with high auction volumes in Camberwell (29 auctions), South Yarra (24), Reservoir (23), and Brunswick (21).
REIV President Richard Simpson said 2017 has been one for the ages with multiple auction records broken.
“More homes have sold at auction this year than ever before; with the current year-to-date clearance rate of 78 per cent suggesting that demand continues to outstrip supply across the city.” said Simpson.
“While the spring auction market has been relatively moderate compared to the past few years, this weekend will go close to experiencing the highest ever volumes for a single weekend.”
“High auction numbers offer buyers plenty of opportunities to enter the market before the Melbourne Cup long weekend with multiple auctions being held in more than 300 suburbs across the state.”
Simpson adds, “Victoria’s property market remains buoyant with the median house price increasing by 14 per cent over the past year to $817,000.”
“The apartment sector has also performed strongly with the median price rising by just over nine per cent on the same period last year to $587,000.”
Auction Wrap – Historical Overview
BIGGEST AUCTION WEEKENDS IN VICTORIA’S HISTORY
18/19 Nov 2015 – 1712 auctions
25/ 26 Oct 2014 – 1659 auctions
19/20 Mar 2016 – 1626 auctions
24/25 Oct 2015 – 1517 auctions
5/6 Dec 2015 – 1505 auctions
6/ 7 Dec 2014 – 1504 auctions
12/13 Dec 2015 – 1499 auctions
BIGGEST AUCTION WEEKS IN VICTORIA’S HISTORY
Week ending 19 Nov 2015 – 1754 auctions
Week ending 26 Oct 2014 – 1677 auctions
Week ending 20 Mar 2016 – 1671 auctions
Week ending 25 Oct 2015 – 1551 auctions
Week ending 6 Dec 2015 – 1539 auctions
Week ending 13 Dec 2015 – 1543 auctions
Week ending 7 Dec 2014 – 1531 auctions
Auction Wrap – 2017
MOST AUCTIONS – MELBOURNE (year-to-date)
| SUBURB | TOTAL AUCTIONS | SOLD AT AUCTION | CLEARANCE RATE |
| RESERVOIR | 513 | 400 | 78.00% |
| CRAIGIEBURN | 407 | 340 | 83.50% |
| MOUNT WAVERLEY | 370 | 273 | 73.80% |
| GLEN WAVERLEY | 360 | 259 | 71.90% |
| RICHMOND | 329 | 240 | 72.90% |
| EPPING | 306 | 260 | 85.00% |
| PRESTON | 303 | 230 | 75.90% |
| BENTLEIGH EAST | 301 | 233 | 77.40% |
| KEW | 295 | 227 | 76.90% |
| HOPPERS CROSSING | 284 | 242 | 85.20% |
RECORDS BROKEN THIS YEAR
February 2017: Highest auction volumes and sales
March 2017: Highest auction sales
April 2017: Highest auction volumes and sales
June 2017: Highest auction volumes and sales
July 2017: Highest auction volumes and sales
