Few auctions are expected this weekend, especially in metropolitan Melbourne, as Saturday is Derby Day, according to REIV.
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About 240 auctions in 120 suburbs are slated, with the top auction locations Metung (nine auctions), Rye (eight auctions) and Newtown (six auctions).
While the drop in auctions is not as dramatic as on Grand Final weekend, it is just a fraction of the 1680 auctions held last week, with a 71 per cent clearance rate. Auctions this weekend are mainly for land blocks, predominantly in regional Victoria.
This weekend last year, the REIV reports there was a 67 per cent clearance from 192 auctions.