Buying property in Victoria has become more complicated than simply finding a home you like, making an offer and arranging finance.
In 2026, Victorian property buyers need to pay closer attention to changes affecting property advertising, price transparency, auctions and the information available before signing a Contract of Sale.
Some of the biggest changes begin on 1 October 2026, while other changes are scheduled for 2027. That distinction matters because not every new rule applies immediately.
For Melbourne buyers, the practical lesson is simple: don't rely solely on the advertised price or what you're told at an inspection. Understand the property's documents, costs and contract before you commit.
This guide explains the key Victorian property changes buyers should know about in 2026 and how they may affect the way you approach a purchase.
What's Changing for Victorian Property Buyers in 2026?
The Victorian Government has introduced changes to property sales and underquoting laws aimed at improving price transparency for buyers.
Most of the new requirements begin on 1 October 2026, with specific requirements applying to auctions and fixed-date sales held from 16 October 2026.
The changes include:
- New requirements for publishing auction reserve prices
- A new Property Price Statement
- Changes to comparable property information
- Publication of sold prices after an unconditional sale
- Future changes to when Section 32 statements must be made available
- Changes to the process for early release of deposits from 2027
For anyone buying property in Melbourne, these changes are worth understanding because they affect some of the information you see before deciding whether to make an offer.
1. Auction Reserve Prices Will Become More Transparent
One of the most significant changes is the requirement for real estate agents to publish the seller's reserve price at least seven days before an auction or fixed-date sale.
The reserve price must be displayed as a single dollar amount. Agents won't be able to use wording such as "from", "over", "+" or "starting at" instead of giving the actual amount.
The requirement applies to auctions and fixed-date sales held from 16 October 2026.
This could give buyers a clearer indication of the price level the seller is prepared to accept before attending an auction.
However, buyers should still remember that the reserve price isn't the same thing as a guarantee of what the property will sell for.
Market competition, the number of bidders and the seller's circumstances can all affect the final outcome.
What should buyers do?
Don't treat the published reserve as your personal budget.
Work out what the property is worth to you based on comparable sales, condition, location and your own finances.
If you're planning to bid at auction, have your finance and legal due diligence organised beforehand.
2. The Property Price Statement Replaces the Statement of Information
Another major change is the introduction of a Property Price Statement (PPS).
The PPS will replace the existing Statement of Information for relevant residential property sales.
The new document is designed to provide buyers with information about the property and comparable properties used by the agent.
It must be displayed prominently in online advertising rather than being hidden at the bottom of a property listing.
For buyers, this means the information used to support a property's advertised price should become easier to find.
But it still shouldn't replace your own research.
Don't rely on one comparable property
A property can look cheap or expensive depending on which comparable sales are selected.
For example, two homes on the same street may have very different values because of:
- Land size
- Renovations
- Number of bedrooms
- Parking
- Building condition
- Orientation
- Views
- Development potential
- Easements or other restrictions
The new price information can help you research a property, but it shouldn't be the only thing you use when deciding how much you're prepared to pay.
3. Sold Prices Will Also Become More Visible
Under the new rules, agents must update the Property Price Statement with the sold price seven days after the property becomes unconditional.
The updated information must generally remain publicly available for at least 18 months, subject to exemptions.
For buyers, this could make recent comparable sales easier to research.
That is useful when you're trying to answer a very practical question:
Is the property I'm looking at actually priced reasonably compared with similar homes?
This is particularly relevant in Melbourne suburbs where prices can vary significantly from one pocket to another.
4. Section 32 Rules Are Changing — But Not Until 2027
This is one area where buyers need to be careful about dates.
The new Victorian rules will eventually require agents to make Section 32 statements available earlier.
For private sales, the Section 32 must be made available within 14 days after the property is advertised.
For auctions and fixed-date sales, it must be available at least 14 days before the auction or fixed-date sale.
However, these earlier Section 32 availability requirements start on 1 July 2027, not 1 October 2026.
Until then, the existing requirements continue to apply.
Why does the Section 32 matter?
A Section 32 Vendor Statement contains important information about the property, including matters such as:
- Mortgages
- Covenants
- Easements
- Zoning
- Outgoings
- Certain property declarations
- Owners corporation information where applicable
Consumer Affairs Victoria states that a prospective buyer can have their conveyancer or legal practitioner check the Section 32 before buying.
This is one reason I wouldn't recommend treating the Section 32 as something to skim after you've already decided to buy.
5. Don't Sign the Contract Just Because Your Offer Was Accepted
This is where the new price-transparency rules and the legal side of buying property meet.
You might spend weeks looking at properties, attend an inspection, negotiate with the agent and finally have your offer accepted.
That's when excitement can take over.
But an accepted offer doesn't mean you should stop checking the paperwork.
In Victoria, the Contract of Sale contains important details including:
- The property being sold
- Buyer and seller details
- Purchase price
- Deposit
- Settlement arrangements
- Special conditions
- Finance conditions where applicable
- Other contractual obligations
A property can look perfect during an inspection and still have contractual terms you don't fully understand.
Have the contract reviewed before signing
If you are unsure about a Contract of Sale, getting advice from a licensed conveyancer or legal practitioner before signing can help you understand the terms and identify issues that deserve attention.
This is especially important where the contract contains unusual special conditions or the transaction involves more complexity than a standard residential purchase.
6. Budget for More Than the Deposit
One of the easiest mistakes for first-home buyers is calculating affordability using only the deposit and mortgage repayment.
Your total purchase costs can also include:
- Land transfer duty
- Land registration fees
- Conveyancing fees
- Building and pest inspections
- Loan-related costs
- Owners corporation costs where applicable
- Adjustments at settlement
- Moving and immediate property expenses
First-home buyers should check stamp duty eligibility
Victoria currently provides a first-home buyer land transfer duty exemption for eligible purchases with a dutiable value up to $600,000.
For eligible homes between $600,001 and $750,000, a reduced amount of duty may apply.
The rules have eligibility requirements, so buyers shouldn't assume they automatically qualify.
If you're buying your first home, calculate your expected duty before committing to a purchase rather than treating it as an afterthought.
7. Land Registry Fees Have Also Changed for 2026–27
Another cost buyers should have on their radar is land registration.
Land Services Victoria's 2026–27 fee schedule applies from 1 July 2026. Land Services Victoria also provides a current transfer-of-land fee calculator that allows users to calculate the applicable 2026/27 fee.
These aren't necessarily the largest costs associated with buying a property, but they form part of the overall settlement picture.
This is another reason why comparing only the advertised property price can give you an incomplete picture of the amount you'll actually need to complete the purchase.
8. Off-the-Plan Buyers Have Another Important Concession to Check
If you're buying an apartment, unit or townhouse off the plan, there is another Victorian change worth knowing about.
The temporary off-the-plan duty concession has been extended to 21 April 2027 for eligible purchases.
Under the temporary concession, certain construction costs incurred after the contract is signed can be excluded when calculating the property's dutiable value.
The concession can apply to eligible apartments, units and townhouses in a strata subdivision and isn't limited to first-home buyers.
However, eligibility depends on the type of property, contract date and other requirements.
If you're considering an off-the-plan purchase, don't assume the advertised price tells you the final duty position. Check the current SRO requirements and have the contract reviewed before signing.
9. What Melbourne Buyers Should Do Differently in 2026
The biggest change isn't simply one new document or one new rule.
The broader buying process is becoming more information-driven.
Before committing to a property, I'd suggest working through the following checklist.
Before making an offer
Check:
- Recent comparable sales
- Property condition
- Advertised price information
- Property Price Statement where applicable
- Expected stamp duty
- Your borrowing capacity
- Settlement requirements
- Section 32 availability
Before signing
Check:
- Contract price
- Deposit
- Settlement date
- Finance conditions
- Special conditions
- Inclusions and exclusions
- Title information
- Easements and restrictions
- Owners corporation information where relevant
- Any unusual contractual obligations
Before settlement
Make sure:
- Finance is ready
- Required searches have been completed
- Settlement adjustments have been checked
- Required funds are available
- Transfer documents are prepared
- Settlement arrangements are confirmed
This is where having an experienced conveyancer in Melbourne can make the process much easier to manage.
Do You Need a Conveyancer When Buying Property in Melbourne?
You aren't simply buying bricks and land.
You're entering into a legal contract that transfers an interest in property, and there are multiple documents, deadlines, searches and settlement requirements involved.
A conveyancer can assist with matters such as:
- Reviewing the Contract of Sale
- Reviewing the Section 32
- Conducting relevant searches
- Checking title information
- Explaining contractual conditions
- Communicating with the agent and seller's representative
- Preparing for settlement
- Handling settlement documentation
- Lodging the transfer
Consumer Affairs Victoria notes that licensed conveyancers can undertake conveyancing work and legal work relating to the transfer of title.
For a buyer, one of the most useful times to involve a conveyancer is before signing, rather than waiting until settlement is approaching.
What About the Melbourne Property Market?
The new rules don't mean buyers should automatically pay more or less for a property.
They are mainly about improving information and transparency around property sales.
That means buyers still need to make their own assessment of:
- The property's location
- Recent comparable sales
- Condition
- Future plans for the area
- Finance affordability
- Contract terms
- Total acquisition costs
A new pricing document doesn't remove the need for due diligence.
If anything, having more information available makes it even more important to know how to interpret it.
A Practical 2026 Property-Buying Strategy
If I were buying a property in Melbourne during this period, I'd keep the process fairly simple:
1. Set a realistic budget.
Don't base it solely on the maximum loan amount a lender says you can obtain.
2. Research comparable sales.
Look beyond the property's asking price.
3. Check the available property documents.
Pay particular attention to the Contract of Sale and Section 32.
4. Calculate the complete purchase cost.
Include stamp duty, registration, conveyancing and other transaction costs.
5. Get professional advice before signing.
A contract review can identify matters you may not notice yourself.
6. Keep copies of everything.
Keep the contract, Section 32, correspondence and other important documents together throughout the transaction.
7. Don't let auction or negotiation pressure make the decision for you.
If the numbers or contract don't work for you, walking away can be better than discovering the problem after you've committed.
Frequently Asked Questions
When do the new Victorian property sale rules start?
Most of the new property sales and underquoting requirements start on 1 October 2026, with some auction and fixed-date-sale requirements applying to sales held from 16 October 2026.
When does the new Property Price Statement start?
The Property Price Statement replaces the Statement of Information from 1 October 2026 for the relevant sales covered by the new rules.
When will Section 32 statements have to be provided earlier?
The new earlier-availability requirements for Section 32 statements start on 1 July 2027.
Do first-home buyers pay stamp duty in Victoria?
Eligible first-home buyers pay no land transfer duty on a Victorian home with a dutiable value up to $600,000. A reduced amount can apply between $600,001 and $750,000, subject to eligibility.
Have Victorian land registration fees changed?
Yes. The 2026–27 Land Services Victoria fee schedule applies from 1 July 2026, and the current transfer-of-land fee calculator has been updated for the 2026/27 fee year.
Should I get my Contract of Sale reviewed before signing?
If you're unsure about the contract or its conditions, having a licensed conveyancer or legal practitioner review it before signing can help you understand your obligations and identify matters that require attention.
Final Word for Melbourne Property Buyers
Buying property in Victoria in 2026 requires more than finding the right house and securing finance.
New price-transparency rules are changing the way property information is presented, while changes to land registration fees and existing stamp duty concessions affect the overall cost of purchasing property.
But the fundamentals haven't changed.
Research the property. Understand the costs. Read the documents. Check the contract. Get advice before you sign.
For Melbourne buyers, involving a conveyancer early can make the legal side of the transaction much easier to understand and manage.
If you've found a property and already have the Contract of Sale, consider getting it reviewed before committing to the purchase.
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