Buying or selling property in Victoria? Here’s what’s changing from 1 October 2026
Significant changes to property price transparency are coming to Victoria from 1 October 2026.
The changes are designed to provide buyers and sellers with clearer, more detailed pricing information throughout the residential property sales process.
Here is an overview of what’s changing and what it may mean for you.
Property Price Statements
From 1 October 2026, the current Statement of Information, commonly referred to as an SOI, will be replaced by a Property Price Statement, or PPS.
The Property Price Statement and indicative selling price must be displayed prominently on online property advertisements, adjacent to the advertised price.
It must also provide more detailed information about the property being sold and any comparable properties used to determine the indicative selling price.
This includes:
- Property type
- Number of bedrooms
- Number of bathrooms
- Number of car spaces
- Internal floor area in square metres
- Land size in square metres
- Any other prescribed property features
Including these details will allow buyers to better understand how comparable properties relate to the home they are considering.
Reserve prices for auctions and fixed-date sales
For properties being sold by auction or fixed-date sale, the seller’s reserve price must be published at least seven days before the scheduled sale.
This gives prospective buyers greater clarity around the seller’s expectations before attending an auction or participating in a fixed-date sale.
If the reserve price is not published within the required timeframe, the property cannot proceed to auction.
Publication of sold prices
Once a residential property sale becomes unconditional, the Property Price Statement must be updated to include the sold price within seven days, unless an applicable exemption applies.
The updated Property Price Statement must then remain publicly accessible online, free of charge, for at least 18 months following the sale.
This will provide buyers and sellers with greater access to recent sales information when researching the local property market.
What do the changes mean for buyers?
Buyers will have access to more information when assessing a property, including:
- More detailed information about the property and its comparable sales
- Clearer visibility of the seller’s reserve price before an auction or fixed-date sale
- Greater access to verified sold-price information
- More information to support comparisons between properties
While this additional information may help buyers make more informed decisions, it remains important to undertake independent research and seek professional advice before purchasing a property.
What do the changes mean for sellers?
For sellers, the reforms introduce additional disclosure requirements throughout the sales campaign.
Your agent will need to prepare and prominently display the new Property Price Statement, publish the reserve price within the required timeframe and update the statement with the final sold price after the sale becomes unconditional.
Working closely with your agent will help ensure the required information is prepared accurately and published at the appropriate stages of the campaign.
Preparing for the changes
The new property price transparency requirements are scheduled to commence on 1 October 2026 and apply to residential property sales in Victoria.
Whether you are preparing to buy or sell, your local Noel Jones agent can explain how the changes may affect you and guide you through the property sales process.
To speak with your local Noel Jones team, visit https://noeljones.com.au/offices/.
This article provides general information only and should not be considered legal or financial advice. Requirements and commencement arrangements may be subject to further regulations or government guidance.
