The Victorian government is finalising new legislation for 2026 aimed at cracking down on underquoting across the state's housing market. State Consumer Affairs Minister Nick Staikos emphasised that the ongoing reforms are designed to protect buyers—particularly young people and families—from misleading property advertising.
Under the government's proposed changes, real estate agents would be required to publish a vendor's reserve price at least seven days before an auction or fixed-date sale, with failure to comply potentially stopping the sale from proceeding. Meanwhile, the Real Estate Institute of Victoria (REIV) has put forward an industry counter-proposal recommending vendors instead confirm their reserve price falls within a 10% advertised price range up to three business days prior to auction.
While the state continues finalising its framework following thousands of complaints to the Victorian Government’s Underquoting Taskforce since 2022, property data shows Melbourne's median house price rose 3.8% to $1.007 million in the year leading to January 2026, alongside climbing regional figures.
