Victoria’s New Property Sale Price Disclosure Laws: What Melbourne Sellers Need to Know
New rules are changing how residential property prices must be advertised and disclosed in Victoria.
If you are planning to sell a home in Melbourne, particularly through an auction or fixed-date sale, it is important to understand the changes coming into effect from 1 October 2026.
Most of the new requirements start on 1 October 2026, while the new rules specifically applying to auctions and fixed-date sales apply to sales held on and from 16 October 2026.
What Is Changing?
The Victorian Government has introduced new requirements aimed at improving price transparency and strengthening existing underquoting rules.
The key changes include:
- A new Property Price Statement (PPS) replacing the current Statement of Information
- Publication of the seller's reserve price before certain auctions and fixed-date sales
- Earlier publication of the final sale price
- More detailed information about comparable properties
- Changes to where price information must appear in online advertising
1. Reserve Prices Will Need to Be Published
For auctions and fixed-date sales held on and from 16 October 2026, the seller's reserve price must generally be published at least 7 days before the sale.
The reserve must be shown as a single dollar amount. If the reserve changes, the seven-day period starts again before the auction or fixed-date sale can proceed.
For example, if an auction is scheduled for 16 October 2026, the reserve price would need to have been disclosed by 9 October 2026.
Sellers will still be able to determine their reserve price, subject to the new requirements and the advice process provided by their agent.
2. The Statement of Information Is Being Replaced
The existing Statement of Information will be replaced by a Property Price Statement.
The new statement will contain key information about the property being sold and comparable properties, including:
- Property type
- Number of bedrooms
- Number of bathrooms
- Number of car spaces
- Internal floor area
- Land size
- Relevant comparable property information
For online listings, the Property Price Statement must be displayed prominently, including on the first visible part of the main advertisement and next to the advertised price.
3. Sold Prices Will Need to Be Published
Another significant change is the requirement to publish the final sale price.
For relevant sales becoming unconditional from 1 October 2026, the agent must generally update the Property Price Statement with the sold price within 7 days and keep it publicly available for at least 18 months, subject to applicable exemptions.
This means sellers should discuss the new disclosure requirements with their agent before commencing a sales campaign.
What Does This Mean for Melbourne Sellers?
If you are currently selling your property or planning to launch a campaign soon, now is a good time to review your sales strategy.
Your agent may need to review:
- Current advertising
- Comparable sales
- Estimated selling price
- Property measurements
- Property Price Statement requirements
- Auction or fixed-date campaign timing
- Reserve price arrangements
- Post-sale disclosure processes
Consumer Affairs Victoria recommends that agents review their sales processes, advertising practices, compliance procedures, staff training and systems ahead of the changes.
What About Existing Campaigns?
The transition is particularly important for properties already on the market.
Although the legislation commences on 1 October, the new reserve-price requirements for auctions and fixed-date sales apply to sales held on and from 16 October 2026.
For example, an auction held on 15 October may fall under different transitional arrangements from an auction held on 16 October.
If your property is already being marketed, speak with your selling agent about how the new requirements may affect your campaign.
Preparing to Sell Your Melbourne Property?
The new rules add another consideration when planning a residential property sale in Victoria.
At Realink, we combine local market knowledge, comparable sales information and strategic marketing to help Melbourne property owners prepare for the market.
Whether you are considering an auction, fixed-date sale or another selling method, our team can discuss your property, current market conditions and the options available to you.