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Victoria to require public reserve prices for property auctions starting mid-2026.
Victoria is introducing landmark property reforms requiring real estate agents to publicly disclose a property’s reserve price at least seven days before an auction or fixed-date sale, aiming to end widespread underquoting.
The change, driven by a major investigation revealing half of Melbourne’s sold properties exceeded their advertised price guides, seeks to increase transparency and protect first-time buyers.
The law, to be introduced in parliament by mid-2026, will prohibit sales without a disclosed reserve and tighten guidelines on price guides, requiring agents to use relevant comparable sales.
While 92% of survey respondents support the move, the Real Estate Institute of Victoria has raised concerns, calling it an overcorrection and urging broader reforms.
Similar changes are under consideration in New South Wales.
Victoria exigirá precios públicos de reserva para las subastas de propiedades a partir de mediados de 2026.