Melbourne's auction market is set to reach unprecedented heights over the next fortnight, thanks to the federal election, says the Real Estate Institute of Victoria. Melbourne will see one of the biggest ends to the financial year on record with close to 2,000 auctions scheduled in the next two weeks.

This weekend, 1,020 homes are set to go under the hammer, trumping the previous record for the same weekend in June, set last year, when 920 auctions were held.

A further 920 homes are currently scheduled for auction in the last weekend in June, far more than other on record.

REIV CEO Geoff White said the upcoming election is underpinned by mid-year Victorian school holidays which commence on the same weekend. “Vendors are looking to go to market before these other events take place – with, traditionally, fewer auctions being held at these times,” he said.

“Buyers are going to be spoiled for choice in the next few weeks with high auction numbers in more than 300 Melbourne suburbs. This will enable buyers to purchase a new home and even settle before spring.”

White added that buyer and vendor confidence in the market remains solid high with strong clearance rates and continuing record low interest rates.

“This is one of the strongest finishes to the financial year in the state’s history with, potentially, two Super Saturdays of 1000-plus auctions expected in the next fortnight,” he said.

See our previous coverage of weekend auctions:

Get to know Dominic Gibson of Melbourne Acquisitions 

Fierce storms fail to dampen buyer spirits  

Melbourne's north runs hot as winter sets in 

Melbourne's most affordable suburbs