The sale frenzy continues in Melbourne with a record number of properties, 1120, heading to auction this weekend. That number is significantly higher than the 810 auctions held on the same weekend last year. 

The previous record of 1,030 auctions was set in the second-week of August, setting up this month as the strongest in the state’s history.

"The inner and middle south-east and eastern suburbs have consistently seen a high volume of auctions this year," said Real Estate Institute of Victoria CEO Enzo Raimondo. Clearance rates in these suburbs remained strong – led by suburbs such as Bayswater, Dingley Village and Wantirna, which recorded well above 90 per cent.

"But strong clearance rates and high auction numbers in Melbourne’s middle and outer suburbs show that buyers are increasingly seeking value, and space, in the more affordable areas," said Raimondo. "The heightened demand for homes in these locations is driving a push towards more auctions, with vendors benefiting from strong competition on auction day."