Victoria Property Price Statement: New Rules Explained 2026

Victoria’s new property price transparency rules

Victoria’s residential property market now runs under a new set of price transparency rules, and the old Statement of Information has been replaced. Its successor, the Property Price Statement, is the key document agents must now prepare, display and share with prospective buyers throughout a sale.

Key changes under the Property Price Statement rules:

Reserve price disclosure. For an auction or fixed-date sale, agents must publish the seller’s reserve price at least seven days beforehand, as a single dollar figure. The auction or sale cannot go ahead unless that price has been published for the full seven days. (One exception: if the reserve has already been published and the seller then receives a pre-auction offer, they can accept it even if the seven days haven’t run their course.)
Final sale price. Within seven days of a sale becoming unconditional, agents must publish the final sale price in the Property Price Statement. This applies to properties sold after 1 October 2026. The Director of Consumer Affairs Victoria can grant an exemption, but only where there are circumstances involving family violence or personal violence affecting the seller or buyer.
Where the statement appears. The Property Price Statement must be displayed at every open for inspection and shown prominently on the main online listing, either visibly or as a hyperlink right next to the advertised price, on the first visible part of the listing. Any physical advertisement must include a link or QR code to it, and a prospective buyer who asks for a copy must receive one within two business days.
What it must contain. The Property Price Statement must give an indicative selling price, either as a single figure or as a range of no more than 10 per cent. That price cannot be lower than the agent’s own estimated selling price, the seller’s asking price, or any written offer the seller has already rejected. It must also set out the key features of the property for sale, details of the most comparable sales (address, date of sale, sale price and key features), a note if fewer than three comparable sales were used, and the median price for the same type of property in the same suburb. Once the agent receives the seller’s reserve price, that must go on the statement too.
How long it stays online. The Property Price Statement must remain online, free of charge, for at least 18 months after the sale becomes unconditional.
Estimating the price. An agent’s estimated selling price must be reasonable and must take into account the sale prices of the three most comparable properties, or one or two if that’s all that can be found. In metropolitan Melbourne, comparable sales must have taken place within the past six months and within two kilometres; outside metropolitan Melbourne, the limits extend to 18 months and five kilometres.
No qualifying language. Agents cannot use words or symbols such as “offers above”, “from” or “+” to qualify an advertised price. The reserve price, likewise, must be a plain dollar amount, with no additions like “from”, “over”, “+” or “starting at”.
Residential only. The underquoting rules apply only to residential sales. Rural, commercial and industrial sales fall outside the scheme, although agents selling those properties must still comply with the Australian Consumer Law.
Updating the estimate. If the agent’s estimate stops being reasonable, the agent must tell the seller in writing, update the sales authority and update the advertising. Online advertising must be updated within one business day, and all other advertising as soon as practicable.