Under the hammer this Saturday

VICTORIA is gearing up for another big auction weekend with around 1530 properties to go under the hammer across 338 suburbs, according to the REIV.

A rise in volume from last weekend's recorded 1402 auctions is consistent with the predicted increase leading up to state's Labour Day long weekend.

REIV data shows the top auction locations this week are Reservoir (24), Preston (23) and Hawthorne (22).

Ray White Preston's Chris Vlahos and Kinson Guo are taking a charming Victorian home at 42 William St, Preston to auction tomorrow at midday (AEDT).

Located around 10km north of Melbourne's CBD, the three-bedroom residence has retained a raft of period features including timber floorboards, open fireplaces, intricate cornices and high ceilings.

Mr Vlahos said the bedrooms are of a substantial size, and the bathroom and kitchen have been updated.

There's great potential for the new owner to extend or develop the home, subject to council approval.

Less than 5km away, 11/59 St Vigeons Rd, Reservoir is scheduled to go under the hammer at 3pm.

Ray White Reservoir sales agent Jason Voglis said the two bedroom unit has been extremely well-maintained, with its own frontage, driveway and garage.

"We're getting a lot of interest from young professionals, first home buyers and downsizers," Mr Voglis said.

"It's in a trendy pocket, quite close to the city and the area's undergone a pretty big shift in the last five years, in terms of demographic."

Ray White Balwyn director Helen Yan is taking a grand family home at 12 Ruby St, Balwyn to auction at 11.30am.

The six-bedroom, five-bathroom house is located in the desirable Balwyn High School zone, so interest in the property from families is high.

Ms Yan said the size of the land, at 820sq m, is also very appealing to potential buyers.