As of 1 October 2026, significant updates to property legislation under the Consumer Legislation Amendment Act 2026 take effect across Victoria. Designed to bring greater transparency to campaign pricing and sales disclosures, these changes offer home buyers and property investors a clearer baseline for decision making.

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While equal access to market data streamlines the initial search, securing a home efficiently still relies on expert valuation, market research, and tailored negotiation. Here is a practical breakdown of today's key updates and how our team helps turn these changes into a buying advantage.

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1. Pre-Auction Reserve Price Disclosures

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What is changing with reserve prices in Victoria?

Under updated Estate Agents Act 1980 regulations taking effect 1 October 2026, real estate agents must formally request, confirm, and publish the seller's exact reserve price as a single dollar amount at least 7 days prior to an auction or set date sale. If a single figure reserve is not published on time, the auction date must be rescheduled.

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How We Can Help You

A declared reserve price reveals the vendor's minimum acceptable threshold, but it does not dictate where competitive bidding will finish under active market demand.

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Our team evaluates local auction dynamics, recent comparable sales, and real time buyer interest to calculate true market value. This keeps your bidding strategy grounded in objective facts, preventing you from overpaying or anchoring your budget to an artificially low starting figure.

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2. Strategic Pre-Auction Offers

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How do new reserve price rules impact pre-auction offers?

Requiring vendors to lock in a reserve price 7 days before an auction fundamentally alters campaign schedules, forcing listing agents and sellers to adjust how they evaluate pre-auction offers.

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How We Can Help You

Submitting an offer before the 7 day reserve window closes requires careful timing and direct communication. An unguided offer can inadvertently prompt a vendor to raise their reserve expectation or use your interest to leverage competing buyers.

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We manage negotiations directly with listing agents to protect your purchasing position. Our advocates help you determine whether to present a competitive pre-auction offer or hold your position for auction day.

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3. Standardised Property Price Statements

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What replaces the Statement of Information in Victoria?

The Statement of Information is now replaced by the Property Price Statement, featuring detailed property metrics and direct digital access via web links or QR codes. Additionally, agents must publish the final unconditional sold price within 7 days of sale, keeping it publicly accessible online for 18 months.

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How We Can Help You

Expanded property disclosures provide greater visibility, but interpreting high volumes of raw sales data accurately remains critical.

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We filter through historical records, suburb growth data, and public sales disclosures to highlight actionable market trends. This separates genuine long term value from short term market outliers so your purchasing decisions remain sound.

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4. Updated Due Diligence Timelines

When must Section 32 Vendor Statements be provided?

Section 32 Vendor Statements must now be made available to prospective buyers earlier in the campaign—at least 14 days prior to an auction or set date sale, and within 14 days of public marketing for standard private sales.

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How We Can Help You

Receiving legal documentation earlier gives buyers a dedicated window to complete due diligence without feeling rushed on the eve of a sale.

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We utilise this timeframe to coordinate directly with legal professionals, conveyancers, and building inspectors. This ensures planning overlays, body corporate health, zoning terms, and structural integrity are thoroughly evaluated well before you make a binding offer.

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Navigating the Updated Market with Peritum Property

Equal access to pricing figures helps streamline property searches across Melbourne and Victoria, but securing the right property at fair market value still requires research and objective strategy.

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Whether you are buying your primary residence or expanding an investment portfolio, having an experienced advocate in your corner keeps your search two steps ahead.

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If you have questions about how today's legislative updates affect your buying strategy, contact the team at Peritum Property today to schedule a consultation.