#17: The New Reserve Price Rules - What Buyers Need to Know

Victoria’s property quoting rules are changing — but will they actually make buying Melbourne property easier?

In this episode of The Melbourne Property Hour, experienced Melbourne buyer advocates Lisa Parker and Cate Bakos unpack the new property price statements, mandatory reserve price disclosure and sold-price rules. They reveal where buyers could still come unstuck. With more than 40 years of dedicated Melbourne property experience between them, Lisa and Cate explore what these changes could mean in the real world: from misleading comparable sales and price anchoring to pre-auction offers, changing campaign strategies and vendor expectations.

If you’re buying property in Melbourne, this is an important episode about looking beyond the advertised number and understanding what a property is really worth.The positioning above reflects the core discussion: the new property price statement adds information, but Lisa and Cate argue it still omits characteristics that can materially affect value, while the published reserve may psychologically anchor buyers without necessarily reflecting the eventual sale price.

Key Lessons & Actions for Listeners🏡 Understand Victoria’s new Property Price Statement and how it differs from the old Statement of Information.

📊 Learn why more property data doesn’t always mean a more accurate valuation, and what comparable sales can miss.

🚦 Recognise how roads, train lines, condition, zoning and overlays can influence a property’s value.

🔨 Understand the new seven-day reserve price disclosure rules and why a published reserve isn’t necessarily market value.

🧠 Avoid price anchoring and learn why strong competition can push a sale well above the reserve.

🔄 Discover how agents and vendors may adapt campaigns, including switching to private sale or accepting pre-auction offers.

💰 Use mandatory sold-price disclosure wisely, remembering that sale prices need context and independent market analysis.