Reservoir again set to be the nation's busiest auction suburb: CoreLogic

For the second week in a row, Reservoir in Melbourne will be the busiest suburb for auctions, with 15 scheduled this weekend, followed by Mount Waverley (14), St Albans (13), Craigieburn (11) and Greensborough (10), all of the top suburbs for auctions this week are in Victoria.

CoreLogic is currently tracking 1,477 auctions across the combined capital cities.

It is expected that the number of properties scheduled to go under the hammer this week will be lower than the 1,766 auctions held last week, however higher than the 1,391 auctions held over the corresponding week last year.

In Australia’s two largest auction markets of Melbourne and Sydney, activity is lower week-on-week, with 683 homes scheduled to go to auction across Melbourne, down from the 818 auctions held last week, and Sydney set to host 561 auctions, decreasing from 656 auctions last week.

Across the smaller auction markets, it is expected that the remaining capital cities will also see a decrease in volumes this week.

Canberra will see the most notable decrease in activity with 42 per cent fewer auctions scheduled this week compared to the week prior, followed by Tasmania (-40%), Perth (-32%) and Brisbane (-12%), while in Adelaide volumes are only slightly lower (-2%).

A three bedroom house at 107 McFadzean Avenue, Reservoir (above) will be auctioned this weekend for between $650,000 to $695,000.

Similarly a two bedroom apartment at 6/767 High Street, Reservoir (below) will be auctioned for between $410,000 to $450,000.