Victoria Moves To Mandate Reserve Price Disclosure At Auctions

Victoria Moves To Mandate Reserve Price Disclosure At Auctions

The Victorian Government has announced a significant change to auction rules: sellers will soon be required to disclose their reserve price seven days before auction day.

This is part of a new policy aimed at increasing transparency and addressing long-standing concerns about underquoting in Victoria’s property market. The legislation is expected to be introduced to Parliament in May 2026.

What’s Changing
• Sellers must set and disclose the reserve price seven days before auction.
• Applies to auctions and fixed sale dates, but not private sales.
• Aims to help buyers better assess affordability and complete due diligence before bidding.
Industry Reactions

The move has received mixed feedback:
• Supporters say it improves fairness and will reduce wasted time and frustration for buyers.
• Critics warn it may push more vendors toward private sales or encourage inflated reserves set too early in the campaign.
• The REIV and major agency heads have expressed concerns, calling the reform “reactive” and “unworkable” in its current form.
What It Means for Buyers and Sellers

For buyers, this reform could bring clearer expectations, more time to prepare, and fewer surprises on auction day.

For sellers, it may require earlier decision-making and tighter coordination with their agents around campaign pricing and market feedback.

Peake’s View

At Peake, we welcome reforms that promote clarity and build trust in the market – but real solutions must consider both buyer and vendor realities. While this is a step toward transparency, it may not fully resolve the issue of early underquoting.

We’ll continue to guide our clients through every change with informed advice, ethical practices, and a focus on achieving the best possible outcomes.

Want to talk about how this might affect your next sale or purchase? Get in touch with the team at peakere.com.au. We’re here to help you navigate a changing market with confidence.