Reservoir again the busiest suburb for auctions this weekend

Topping the list with 17 homes scheduled for auction this weekend is Reservoir, according to CoreLogic.

Runner ups with 13 scheduled auctions each, are Craigieburn and Mount Waverley.

This week, CoreLogic is currently tracking 1,566 capital city auctions, increasing from the 1,402 auctions held last week.

Melbourne and Sydney are set to see a higher volume of auctions this week, with 793 and 535 scheduled, up from last week’s final result of 721 and 458 auction’s held respectively.

Across the smaller markets, activity is expected to be higher in Brisbane and Canberra, while volumes across Adelaide and Tasmania will remain steady, with Perth the only auction market expected to host fewer auctions.

The overall number of properties scheduled for auction this week is expected to be lower than final results from the same week last year when 2,064 auctions were held.

The final auction clearance rate across the combined capital cities rose to 54.9 per cent across a higher volume of auctions last week, with 1,402 held, increasing from the 1,324 auctions the week prior when 54 per cent cleared.

Last week’s clearance rate was lower than the 67.5 per cent recorded over the same week one year ago when volumes were higher (2,040).

Indicative of the strong auction showing from Reservoir this coming weekend, 51 Queens Street, Reservoir (pictured in title) goes to auction this Saturday with a price guide of $1.15 to $1.25 million.

The 818 sqm property has a clear view of the Melbourne skyline.

The five bedroom three bathroom home is a short trip from Regent train station.

Another home going to auction this weekend is 17 McColl Street, Reservoir (pictured above).

This three bedroom two bathroom house has a price guide of $880,000 to $930,000.

The property is situated within a short distance of numerous shopping centres, schools and Latrobe University.