Vendors are bracing for tough competition this weekend as auction volumes surge to a new nationwide record, with Melbourne alone hosting 2040 auctions.

Melbourne vendor Matt White said his family is optimistic about reaching the price guide of about $3.245 million when the family home at 3 Newington Grove, Caulfield North, goes under the hammer on Saturday at 2:30pm AEDT. However, he said buyer interest had waned towards the end of the campaign.