The Real Estate Institute of Victoria (REIV) is predicting a bumper weekend (February 23-24), as nearly 1,000 properties are expected to go under the hammer.
Richmond will have the highest volume of stock on offer, with 21 out of 950 found in the suburb.
This weekend's auction results will be able to provide the institute with a clear indication of how the market is faring this year, but won't provide an insight as to how the year will conclude.
The corresponding weekend from last year yielded a 57 per cent clearance rate from 623 auctions, while the two days from 2011 saw 749 auctions occur with a 63 per cent success rate.
Data has found that over the last five years, there has rarely been the case where clearance rates have been similar at the start and end of the year.
It was explained: "Last year, it was mostly stable over the year; in 2011 it fell over the course of the year; in 2010 it dropped sharply; in 2009 it rose sharply and in 2008 it dropped."
Other suburbs that will see high volumes for sale include St Kilda with 18 auctions, Glen Iris with 17 and Brighton East with 16.
