A record 2040 residential property auctions will be staged by the end of this weekend, 244 more than previous highest (1796) in October 2017.

But the record will be short-lived, with the Real Estate Institute of Victoria forecasting 2080 for next week.

This week’s auctions will be staged across 377 Victorian postcodes, with almost half of the homes going under the hammer in the middle Melbourne region (10-20km from the CBD).

Reservoir (30 auctions), Coburg and Glen Waverley (26) and Richmond (25) will be the busiest suburbs this weekend. There are more than 60 auctions listed across regional Victoria.

President of the REIV Adam Docking said the strong numbers will be welcomed by home buyers.

“An increase in property supply over the next few weeks if good news for buyers, following a long period where fewer listings – but sustained demand – has, in many instances, played a role in lifting prices,” Mr Docking said.

“Breaking through the 2000 auction listings barrier will be a significant milestone for the real estate sector in Victoria. It’s a sign of market strength that should buoy all participants in the sector, particularly the hard-working agents who, every week, facilitate the property aspirations of the state’s thousands of buyers and sellers.”

A percentage breakdown of the auction location data for the weekend ahead:

• Inner Melbourne (0-10km from CBD) - 35%
• Middle Melbourne (10-20km) - 43%
• Outer Melbourne (20+km) - 17%
• Regional Victoria - 5%

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