Victorian home sellers must now publish their reserve price a week before auction

The Australian-first rule applies to auctions and fixed-date sales from Friday 16 October.

Confirmed

Home sellers in Victoria must now tell buyers their reserve price at least a week before an auction. The reserve price is the lowest price a seller will accept. The Australian-first rule means agents must publish the reserve at least seven days before an auction or a fixed-date sale. If they don't, the sale cannot go ahead. There are big penalties for breaking the rule. It applies to sales on and from 16 October 2026, after a two-week changeover, Realestate.com.au reported. Consumer Affairs Victoria (CAV) is in charge of the rules. The plan was first announced in November 2025, when Jacinta Allan was Premier. Ben Carroll is now Victoria's Premier. The Real Estate Institute of Victoria (REIV), which represents agents, opposed the seven-day rule. It is not yet known how many auctions this weekend will be affected. The change aims to stop underquoting, when a home is advertised for less than it is likely to sell for.