Victoria’s Consumer Legislation Amendment Act 2026

FAQs for Buyers

New property sales reforms are coming into effect in Victoria from 1 October, changing price disclosure and information requirements for auction and fixed-date campaigns. Our guide to some of the most frequently asked questions from buyers will help you feel informed and prepared.

Consumer Legislation Amendment Bill 2026 FAQs for Vendors

What is changing for buyers?

What is staying the same?

What is a reserve price?

Does the reserve price mean I can buy the property for that amount?

If I bid above the reserve, will I definitely buy the property?

Will I know the reserve before I attend the auction?

What if the reserve is above what I am able to afford?

Can the vendor change the reserve after it has been published?

Can I make an offer before auction?

What happens if the property is passed in?

What is changing with the Statement of Information?

Will I be able to see what a property eventually sells for?

What happens if the property is being sold by private sale?

What happens if the property is being sold by Expressions of Interest?

Does a published reserve change how auctions work?

What should I do before bidding at auction?

When do the new rules come into effect and do they affect already advertised properties?

Where do I find the published reserve price?

At Jellis Craig, our experienced agents are here to answer your questions and guide you through the buying process, so you can approach your next property purchase with confidence.