Reservoir is set to be the busiest auction suburb this weekend

The Melbourne suburb of Reservoir is host to the highest volume of auctions this weekend, with 23 homes set to go under the hammer, according to CoreLogic.

Next busiest is Mount Waverley, also in Melbourne, with 19 scheduled auctions.

This week, the number of auctions scheduled to take place across the combined capital cities is expected to fall, with 2,369 currently being tracked by CoreLogic, decreasing from the 2,590 auctions held last week at final results.

Over the same week, last year a higher 2,701 auctions took place across the capital cities.

Both Melbourne and Sydney are expected to see a decrease in activity this week, with 1,100 homes scheduled for auction across Melbourne, while Sydney is set to host 886 auctions, increasing on the 1242 and 947 auctions held last week respectively.

Within the smaller auction markets volumes like Brisbane and Canberra, auction volumes increase week-on-week, while Adelaide, Perth and Tasmania will see fewer auctions.

The dearest home being auctioned off in Reservoir this week, according to RealEstate.com.au is 5 Frier Avenue (pictured is title).

The three bedroom, one bathroom house is being takent to auction with a price guide of $950,000 - $1,045,000.

It is described in the listing as a "classic Californian with unrivalled Oakhill prestige... with plenty of room to expand (STCA)."