Michaela Meade
Twenty-one properties in Craigieburn will go under the hammer this weekend as part of a record weekend of auctions across Melbourne.
According to the Real Estate Institute of Victoria (REIV), a record 2040 property auctions will happen by the end of the weekend.
This is 244 more than the previous highest amount – 1796 in October, 2017 – the REIV said.
Craigieburn will have the seventh highest number of auctions going, with 21.
Reservoir will have the highest, with 30 scheduled auctions.
REIV president Adam Docking said the strong numbers of auctions would be welcomed by home buyers.
“An increase in property supply over the next few weeks [is] 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.”
REIV has forecast that the record will be beaten next week, with 2080 auctions expected.
