Victorian homebuyers will have clearer price information when buying a home under new property sales and underquoting law changes.
From 1 October 2026, buyers will benefit from:
- access to the seller’s reserve price 7 days before an auction or fixed-date sale, so they can better understand whether a property is within their budget
- access to sold price information 7 days after a sale becomes unconditional, helping buyers better understand recent sale prices in their area
- stronger Property Price Statement requirements, including more detailed information about the similar properties used to support the advertised estimated selling price.
These changes are designed to give buyers better information before they decide to attend an auction or make an offer, and to support fairer and more transparent property sales.
The Director’s Guidelines for comparable properties have also been revised to guide agents when determining the estimated selling price of a property under the new rules.
Other changes will start in mid-late 2027 and will require agents to:
- make the section 32 statement available at least 14 days before an auction or fixed-date sale, or 14 days before a contract is signed if there is no auction or fixed-date sale
- not take commission from a deposit released before settlement
- provide sold price information to the Director of Consumer Affairs Victoria.
Director of Consumer Affairs Victoria Nicole Rich said the reforms build on broader action to tackle underquoting.
'We know most estate agents want to do the right thing. We’ll support the industry to understand and meet the new requirements.
'Our underquoting taskforce will continue to monitor the property market and the new laws to ensure any breaches are quickly addressed and buyers get the benefit of more transparency.'
Read more about the changes on New changes to the property sales rules.