Victoria’s New Auction and Set-Date Sale Rules: What Sellers Need to Know
Published: September 2026 | Realink Real Estate
Victoria’s property market is about to see important changes to the way residential properties are marketed and sold.
From 1 October 2026, new property sale and price transparency requirements will change the responsibilities of real estate agents and sellers. The new rules will have a particular impact on properties being sold by auction or fixed-date sale, including certain expressions of interest and tender-style campaigns.
At Realink, we believe sellers should understand these changes before choosing a sales strategy and setting their expectations for the campaign.
What is changing?
One of the biggest changes is the requirement for a seller’s reserve price to be disclosed before an auction or fixed-date sale.
For auctions and fixed-date sales held from 16 October 2026, the reserve price must generally be published at least 7 days before the scheduled sale.
The reserve must be shown as a single dollar amount, rather than a price range or wording such as “from”, “over” or “starting at”.
If the reserve price has not been published for the required seven-day period, the auction or fixed-date sale cannot proceed under the new requirements.
Example
If a property is scheduled for auction on Saturday, 24 October 2026, the reserve price would need to be disclosed by Saturday, 17 October 2026.
This means sellers will need to discuss their reserve price with their agent well before auction day.
A new Property Price Statement
Another significant change is the introduction of the Property Price Statement (PPS).
The PPS will replace the existing Statement of Information and will provide buyers with information about the property and comparable properties used when considering its price.
The new statement will need to be displayed prominently in the property's online advertising.
Agents will also need to consider relevant comparable properties when determining and communicating price information. Where three suitable comparable properties cannot be identified, the new rules allow one or two comparable properties to be used where available.
For sellers, this means the pricing conversation with your agent will become even more important. Comparable sales, property features and current market conditions will all need to be carefully considered.
What happens if the reserve price changes?
Sellers can still change their reserve price, but the new disclosure requirements need to be taken into account.
If the reserve is changed within the relevant seven-day period, the property may need to satisfy a new seven-day disclosure period before the auction or fixed-date sale can proceed.
This is why sellers should work closely with their agent when deciding on a reserve and avoid leaving this decision until the last minute.
What if I don't want to disclose my reserve?
A seller can choose not to disclose a reserve price.
However, if the reserve has not been disclosed in accordance with the new requirements, the property cannot proceed to auction or a qualifying fixed-date sale.
A seller may instead consider selling by private treaty, subject to the applicable rules for that method of sale.
This makes the choice of sales method an important part of your initial selling strategy.
Will this affect private sales?
Potentially.
The new rules are particularly focused on auctions and fixed-date sales, but sellers should be aware that the way a campaign is structured can matter.
For example, if an agent invites multiple buyers to submit offers by a particular date and time, this may in some circumstances be considered a fixed-date sale and trigger the new requirements.
For this reason, sellers should discuss the proposed campaign structure with their agent before setting deadlines or creating competition between buyers.
Sold prices will become more transparent
The changes don't stop once the property is sold.
For sales that become unconditional from 1 October 2026, agents will generally need to update the Property Price Statement with the property's sold price within 7 days.
The updated information must generally remain publicly available for at least 18 months, subject to applicable exemptions.
This represents a significant change for the Victorian property market, particularly for sellers who have traditionally preferred not to publicly disclose their final sale price.
What does this mean for sellers?
For homeowners preparing to sell, the key message is plan early.
Before launching your campaign, consider:
- Which sales method is most appropriate for your property?
- What do recent comparable properties suggest about the market?
- What price range and strategy should be discussed with your agent?
- If selling by auction or fixed-date sale, when does the reserve need to be confirmed?
- Are all property details and comparable sales information accurate?
- Are you comfortable with the new requirements around publishing the eventual sale price?
The new rules may also mean that sellers need to allow additional time for preparation and decision-making before an auction or fixed-date campaign.
How can Realink help?
Selling a property is a significant financial decision, and changes to the rules can make the process feel more complicated.
At Realink, our role is to help sellers understand their options, prepare their property for market and develop a sales campaign that is appropriate for the property and current market conditions.
We can help you understand:
✓ Your available selling methods
Auction, private sale and other campaign strategies can have different requirements and considerations.
✓ Current comparable sales
Understanding what similar properties have recently achieved can help inform your pricing discussion.
✓ Your campaign timeline
The new disclosure requirements mean important decisions need to be made at the right time.
✓ The new price transparency requirements
We can explain how the Property Price Statement and reserve-price requirements may affect your campaign.
Thinking of selling in Victoria?
If you are considering selling your property in Melbourne or surrounding areas, now is a good time to discuss your options with a local real estate professional.
The new Victorian rules introduce additional requirements, but with the right preparation, sellers can enter the market with a clearer understanding of the process.
Contact Realink today to discuss your property and selling strategy.
This article provides general information only and is not legal advice. Property owners should obtain independent legal advice about how the Victorian property sale laws apply to their individual circumstances.
Source: Consumer Affairs Victoria, New changes to property sales and underquoting laws, updated 15 September 2026.