Will Victorian auction reserve prices have to be disclosed?

Yes. New Victorian laws require agents to publish the seller’s reserve price at least seven days before residential auctions and fixed-date sales held from 16 October 2026. The reforms commence on 1 October, with a transition period for earlier sales. Current rules continue until the new requirements apply.

The change is intended to give buyers clearer price information before they spend time and money preparing to bid.

What must be disclosed?

The reserve must appear as a single dollar amount, without qualifications such as “from”, “over” or “+”. Advertising must be updated to reflect it.

A new Property Price Statement will replace the Statement of Information for affected sales. It must be displayed prominently and include key features of the property and comparable sales.

For an auction on 16 October 2026, the reserve must be disclosed by 9 October. The auction cannot proceed if the required seven days of disclosure have not occurred.

Can the seller change the reserve?

Yes, but changing a published reserve, whether upwards or downwards, restarts the seven-day period. The auction or fixed-date sale must wait until the revised reserve has been publicly available for another seven days.

Sellers should therefore discuss their expectations with the agent early and consider how a later change could affect the sale timetable.

Can a property still sell before auction?

Yes. Consumer Affairs Victoria says ordinary pre-auction offers can proceed as private sales without the seven-day requirement. An accepted offer can lead to the auction being cancelled. However, a process inviting offers by a specified deadline may itself be a fixed-date sale.

A published reserve does not guarantee that an offer at that amount will be accepted. Buyers should still assess value, confirm their finance and review the contract, vendor statement and property condition before committing.

This article provides general information only and is not legal advice. Legal requirements and individual circumstances vary. Obtain advice about your specific situation.