Victoria’s price transparency rules for residential sales are changing. From 1 October 2026, the Statement of Information (SOI) that Victorian agents have prepared for every residential listing will be replaced by a new document: the Property Price Statement (PPS). Alongside the name change come reserve price publication, mandatory sold price disclosure and stricter rules about where the statement appears in online advertising.
Consumer Affairs Victoria has confirmed that most of the changes start on 1 October 2026, and that the new requirements apply to auctions and fixed-date sales held on and from 16 October 2026. Until then, the current rules apply. If your agency sells residential property in Victoria, now is the time to review your listing workflow, your marketing checklists and your training so nothing is missed in the changeover.
What is changing on 1 October 2026
The reforms come from the Victorian Government’s recent consumer legislation amendments and are aimed at improving price transparency and addressing underquoting. The key changes for sales agents are:
- The SOI becomes the Property Price Statement. The PPS must include the key features of the property being sold and the key features of each comparable property — not just the address and price. Features include the building type, number of bedrooms, bathrooms and car spaces, internal floor area and total land size in square metres, along with any other prescribed features.
- Prominent placement online. The PPS and indicative selling price must be displayed prominently in online advertising, adjacent to the advertised price — not buried at the bottom of the listing.
- Reserve prices published before auction. Agents must publish the seller’s reserve price at least seven days before an auction or fixed-date sale, as a single dollar amount with no words or symbols such as “from”, “over”, “+” or “starting at”. All advertising and marketing material, including the PPS, must be updated to reflect the reserve. If the reserve has not been published seven days beforehand, the auction or fixed-date sale cannot go ahead, and penalties apply. Consumer Affairs Victoria’s own example: for an auction on 16 October 2026, the reserve needed to be disclosed by 9 October 2026.
- Sold prices published after the sale. Once a sale becomes unconditional, the PPS must be updated with the sold price within seven days and remain publicly available, free of charge, for at least 18 months — unless an exemption has been granted. Exemptions relate to circumstances involving personal or family violence and must be approved by application to the Director of Consumer Affairs Victoria.
- Comparable properties. Agents who cannot identify three comparable properties, but can find one or two, must identify those one or two.
Consumer Affairs Victoria has said a new PPS template will be published before the laws start. It is worth watching for that release rather than building your own version from scratch.
Changes further out
Three further reforms have later start dates, so they are worth diarising now:
- 1 June 2027 — earlier section 32 statements. The vendor statement must be available within 14 days after the property is advertised for private sales, at least 14 days before an auction or fixed-date sale, and before the purchaser signs the contract where the property is not advertised or will sell within 14 days of being advertised.
- 1 July 2027 — commission and deposits. Agents must not take commission from a deposit released before settlement.
- 1 December 2027 — reporting to the Director. Agents will be required to provide sold price information to the Director of Consumer Affairs Victoria unless an exemption is granted.
What this means for your listing workflow
The practical impact is that price information is no longer a document you prepare once at the start of a campaign. It becomes a record you maintain from appraisal through to 18 months after settlement. A few areas worth reviewing inside your agency:
Property data completeness. Because the PPS requires key features of both the subject property and every comparable, incomplete listing records become a compliance risk rather than just a presentation issue. Bedrooms, bathrooms, car spaces, building type, internal area and land size should be captured accurately in your CRM for every residential listing before marketing goes live. In iDashboard, these are standard listing fields, so the fastest preparation you can do this month is an audit of your current residential stock for missing floor area and land size values.
Comparable sales records. Keep the comparables you relied on, and their features, attached to the listing rather than in a personal spreadsheet or an email. If a price statement is later queried, you want the supporting evidence in the same place as the listing history.
Campaign timing. The seven-day reserve deadline needs to sit in your auction campaign timeline as a hard milestone, with an owner and a reminder — not as something handled in auction week. Because an auction cannot proceed if the reserve was not published in time, this is one of the few dates in a campaign where a missed task stops the sale. Adding it as a scheduled task or diary entry against the listing in iDashboard, at the point the auction date is set, is a simple way to make it visible to the whole team.
Post-sale updates. Under the new rules the work does not end at the fall of the hammer. Sold price disclosure within seven days of the sale going unconditional means your sales administration process needs a step for updating the PPS once the contract is unconditional, then keeping it available for 18 months. Because iDashboard automatically pushes changes to a published listing through to connected portals, keeping the record accurate in one place remains the most reliable approach.
How this works in iDashboard and iDashsites
You will not need to learn a new part of the system. In iDashboard, the Property Price Statement is prepared in the same tab as the current Statement of Information, under Edit on the listing. For a period after the changeover the tab will be co-named “SOI/PPS” to help users adjust to the new terminology, so agents and administrators can keep working the way they do today while the language changes.
If your agency website is with iDashsites, your site will be automatically updated to align with the new PPS rules — including displaying a Property Price Statement link near the property price, so the statement meets the prominence requirement without any work on your part.
Preparing your team
Most agencies will need a short internal briefing rather than a whole new process. Practical steps for the next few weeks:
- Brief sales agents and administrators on the 1 October 2026 start date and the 16 October 2026 application date for auctions and fixed-date sales.
- Audit residential listing records for missing key feature data, especially internal floor area and land size.
- Update your auction campaign checklist to include the reserve publication deadline and the post-unconditional sold price update.
- Watch for the official PPS template from Consumer Affairs Victoria and replace SOI references in your documents and marketing material once it is available.
- Check your marketing suppliers and any manually produced material for wording that will no longer comply, such as price ranges or “from” pricing where a single dollar amount is required.
These reforms increase the amount of information Victorian agents must publish and maintain, but they largely rely on data agencies already hold. Agencies with clean, complete listing records and a clear campaign checklist will find the transition straightforward.
This article is general information for real estate professionals and is not legal advice. For the authoritative detail and the forthcoming PPS template, refer to the Consumer Affairs Victoria page on new changes to property sales and underquoting laws, or seek your own legal advice.
