Big changes are coming to Victoriaโs property market. From 2026, all homes offered at auction or with a fixed sale date must have the vendorโs reserve price disclosed at least 7 days before auction, or the auction cannot go ahead. This move is aimed at cracking down on underquoting โ where properties are advertised at lower price guides than their true value.
Key Highlights:
Buyers will have more transparency and time to confirm if a property fits their budget before auction day. Sellers must decide and disclose their reserve earlier, affecting auction strategies and marketing campaigns. Investors and agents will need to adapt to a more transparent auction environment, potentially shifting how campaigns are run.
What This Means: First-home buyers: Reduced surprises at auctions, more clarity to plan finance and bidding. Sellers: Need strategic planning around reserve prices to attract competitive bids. Investors: Increased transparency could influence auction outcomes and property demand dynamics.
Experts say this reform aims to create a fairer, more predictable market and protect buyers from inflated expectations.
