Victoria’s property sale laws are changing. Here’s what buyers and sellers need to know
Buying or selling property already comes with plenty of paperwork, deadlines and unfamiliar terminology. A series of changes to Victoria’s property sale laws are designed to make parts of that process clearer.
The reforms are largely focused on greater price transparency and giving buyers important information earlier, while also changing some of the preparation required from sellers and their agents.
Here’s a simple overview of what’s changing.
- Clearer pricing before auction
From October 2026, sellers using an auction or fixed-date sale will need to have their reserve price published at least seven days before the sale.
In simple terms, the reserve is the minimum price the seller has set for the property.
For buyers, this should provide more clarity about the seller’s expectations before auction day.
For sellers, it means conversations around pricing and strategy will need to happen earlier in the campaign.
- More information about how a property is priced
The existing Statement of Information will be replaced by a new Property Price Statement.
It will provide more detail about the property and the comparable sales being used to help determine its estimated price. Once a property sells, its final sale price will also generally be added to the statement and remain publicly available for at least 18 months.
For buyers, that means more information to help understand how a property’s price has been determined and compare it with other recent sales.
- Earlier access to the Section 32
From June 2027, buyers will also have earlier access to the Section 32, sometimes called the Vendor’s Statement.
This is the legal document that provides important information about the property before a buyer signs a Contract of Sale.
For auctions and fixed-date sales, it will need to be available at least 14 days before the sale. For private sales, it will generally need to be available within 14 days of the property being advertised — or earlier if the property sells sooner.
For sellers, it makes getting legal documents organised early even more important.
- Changes to early deposit releases
From July 2027, the existing Section 27 process for releasing a buyer’s deposit before settlement will change.
Buyers and sellers will still be able to agree to an early release, but it will instead be dealt with through the Contract of Sale. Agents will also no longer be able to automatically take their commission directly from an early-released deposit.
What does it all mean?
While there are several individual changes, they share a common theme: more information, earlier in the property journey.
For buyers, that may mean greater clarity around pricing and more time to understand a property before making a significant decision.
For sellers, it means preparation will become increasingly important — from having legal documents ready to making pricing decisions earlier in the campaign.
Property decisions will still depend on the individual home, market conditions and your own circumstances. The changes simply alter some of the information available and when it needs to be provided.
This article provides general information only and should not be relied upon as legal advice. Requirements may change. Seek independent legal or professional advice where appropriate.
