New Victorian Property Legislation. A Better-informed Move.

First up, let's go over what's changing for Victorian property sales.

What is a Property Price Statement (PPS)?

The PPS replaces the existing Statement of Information and provides more detailed information about the property and comparable properties used to inform pricing.

For auctions and fixed-date sales from 16 October, the PPS must be displayed prominently in online advertising and include key features of the property and its comparable properties.

The aim is straightforward: give buyers more information to understand where a property sits in the market.

For sellers, it makes accurate preparation and a well-supported pricing strategy even more important.

What information will be included in comparable sales?

Comparable properties will include more detailed information to help buyers understand how properties compare.

That can include:

• bedrooms
• bathrooms
• car spaces
• land size
• internal floor area
• other key property characteristics

Agents will generally need to provide three comparable properties where suitable examples can be identified. The data gives you a starting point. Local knowledge helps you understand what it means.

What happens to auction reserve prices?

From 16 October 2026, sellers must have their reserve price published at least seven days before an auction or fixed-date sale.

For sellers, that makes preparation, comparable evidence and clear advice increasingly important well before auction day.

When will sold prices be published?

For sales that become unconditional from 1 October 2026, the sold price must be added to the Property Price Statement within seven days. The updated PPS must then remain publicly available for at least 18 months, subject to limited exemptions.

For buyers, this means more accessible information to help research the market and compare properties.

Next, let’s unpack what’s changing for Victorian rentals.

What is changing for Victorian renters and rental providers?

From 13 October, rental providers and their agents will need to manage several new requirements.

These include:

• Stronger bond claim requirements: renters must be notified in advance if a rental provider intends to make a claim on the bond, with evidence provided to support the claim.
• Compliance records: rental providers must keep records showing the property complied with rental minimum standards when it was advertised or offered for rent.
• Gas and electrical safety checks: all rental properties will require gas and electrical safety checks every two years, carried out by qualified tradespeople.
• Gas checks before draughtproofing: where relevant, a licensed or registered gasfitter must first check the property.
• No application fees: rental providers and agents cannot charge renters a fee to make a rental application.

For property managers, there’s more to keep track of, from compliance records and safety checks to how properties are managed throughout the tenancy.

Good property management is becoming even more about staying ahead of the detail.

What do the rental changes mean for renters?

For renters, the changes provide clearer processes around bond claims and rental applications, alongside greater transparency around the safety and compliance of rental properties.

Buxton is getting ready. So, you can feel ready too.

The rules may be changing, but moving through property shouldn't feel harder.

We’re preparing our people, processes and campaigns for what’s ahead, so you can have a clearer view of what’s changing and what it means for you.

Because better information makes for better conversations. And better conversations make for better moves.

This article provides general information only and is not legal advice. Property laws and requirements can change. For complete and current information about Victoria’s property sales and rental requirements, visit Consumer Affairs Victoria.