Victorian Property Law Changes

What Every Buyer & Seller Needs to Know This Spring

Victoria is introducing major property price transparency reforms under the Consumer Legislation Amendment Bill 2026, taking effect from 1 October 2026.

Whether you are planning to sell your property this Spring or actively searching for your next home, here is a quick guide to what is changing and how it affects you.

Key Changes at a Glance

• Reserve prices are locked in earlier: You will confirm your reserve price with your agent at least seven days before auction day as a single dollar amount. Once published online, this reserve figure cannot be increased.
• Clear price display: During the final week of your campaign, price ranges and terms like "offers above" or "from" are replaced by your single reserve price so buyers know your exact minimum threshold.
• Public sale results: Final sale prices will now be published online shortly after a sale becomes unconditional, ending undisclosed sale prices across Victoria.
• Your Woodards agent handles all the technical paperwork, listing updates and Property Price Statements for you behind the scenes.

What this Means for Sellers

• No More Auction-Morning Decision: Under the new legislation, sellers can no longer wait until auction morning to set their reserve figure.
• Data-Driven Strategy: During Weeks 1 to 3 of your marketing campaign, your Woodards agent will gather buyer feedback and inspection data. By Day -7, you will work together to lock in a clear, single-figure reserve based on solid market evidence.
• Building Buyer Confidence: Displaying a transparent reserve figure a week in advance qualifies active buyers early, builds buyer trust, and encourages registered bidders to participate on auction day.
• Alternative Options Available: If co-owners cannot agree on a single reserve figure 7 days in advance, or if you prefer private negotiations, your listing can seamlessly run or convert to a private treaty campaign.

What this Means for Buyers

• Clear Budgeting: You will know the seller's minimum acceptable price a full week before auction day, letting you immediately see if a home sits within your financial budget.
• Streamlined Due Diligence: Knowing the confirmed floor figure allows you to focus your time and money on building inspections, pest reports, and Section 32 legal reviews for properties you can genuinely afford.
• Understanding the Reserve Floor: Remember that a published reserve is the vendor's minimum threshold to call the property "on the market," not a price ceiling. Competitive bidding on auction day can still push the final sale price above the reserve.

Selling or Buying This Spring?

Navigating property law changes requires local market experience and clear communication. If you are preparing to list your property or have questions about how these new rules impact your upcoming sale, reach out to your local Woodards team today for clear, tailored advice.