Victoria’s Property Rules Are Changing. Here’s What You Need To Know.

Victoria is introducing new rules around how residential property is advertised and sold, with a strong focus on greater price transparency and clearer information for buyers and sellers.

The Consumer Legislation Amendment Bill 2026 has now passed both Houses of Victorian Parliament, with different reforms coming into effect at different stages.

The key changes

Reserve prices will become more transparent
From 1 October 2026, for properties being sold by auction or a fixed-date sale, the seller’s reserve price will need to be published at least seven days before the sale. If the advertised price is below the reserve, advertising will also need to be updated.

The Statement of Information is changing
The familiar Statement of Information will become the Property Price Statement (PPS). It will need to be displayed prominently alongside price information in online advertising and provide more detail about the property and the comparable sales used to determine its indicative selling price.

Sold prices will be more accessible
Once a sale becomes unconditional, the final sale price will need to be added to the Property Price Statement within seven days, helping provide buyers and sellers with more up-to-date information about what properties are actually selling for.

Section 32 requirements are changing too
From 1 June 2027, vendors will be required to make their Section 32 statement available earlier in the selling process, including at least 14 days before an auction or fixed-date sale.

What does this mean for Peake clients?

For us, it means preparing early.

Our team is already across the upcoming requirements and will continue adapting our processes, property advertising and sales campaigns as the reforms are implemented.

While some of the terminology and timelines are changing, our focus remains exactly the same: clear communication, transparent advice and making the buying or selling process as straightforward as possible.

Thinking of selling, currently searching for a property, or simply wondering how these changes could affect you?

Reach out to the Peake team any time on 9707 5300.