The Victorian Government has tabled an omnibus bill that impacts across the real estate sector.
Consumer Legislation Amendment Bill 2026
| Principal Act | Reform | Commencement Date |
|---|---|---|
| Conveyancers Act 2006 | Authorise the Business Licensing Authority (BLA) to suspend a conveyancer’s licence if they fail to comply with trust account audit requirements. | The day after the Bill receives Royal Assent |
| Estate Agents Act 1980 | Authorise the BLA to suspend an estate agent’s licence if they fail to comply with trust account audit requirements. | The day after the Bill receives Royal Assent |
| Estate Agents Act 1980 | Require real estate agents to disclose a seller’s reserve price at least 7 days before an auction or fixed-date sale | 1 October 2026 |
| Estate Agents Act 1980 | Increase the prominence and accessibility of the statement of information (SOI) and selling price information by: changing the name of the SOI to the property price statement (PPS) requiring the PPS and indicative selling price to be displayed prominently on internet advertisements requiring real estate agents to include the sale price of a residential property on the PPS within 7 days of the sale going unconditional (unless an exemption applies) and to publish the PPS on an internet site where it is to be available free of charge for at least 18 months following the sale, and requiring real estate agents to include the key features of the property being sold and the key features of each comparable property on the PPS | 1 October 2026 |
| Estate Agents Act 1980 | Require real estate agents to give property sale information, such as its sale price and key features, to the Director of Consumer Affairs Victoria within 7 days of a property sale going unconditional, and enable the Director to publish that information | 1 December 2027 |
| Residential Tenancies Act 1997 | Limit the amount of compensation that may be ordered by the Victorian Civil and Administrative Tribunal for the early termination of a residential rental agreement | The day of proclamation |
| Residential Tenancies Act 1997 | Prevent residential rental providers from unreasonably refusing a renter's request for an additional key or security fob | The day of proclamation |
| Residential Tenancies Act 1997 | Enables the Residential Tenancies Bond Authority to receive bond payments directly from a renter rather than through the rental provider | The day after the Bill receives Royal Assent |
| Sale of Land Act 1962 | Require vendors to make a property’s ‘section 32 statement’ available at least 14 days before an auction or fixed date sale, or at least 14 days before a contract is signed | 1 June 2027 |
| Sale of Land Act 1962 | Repeal section 27 of the Sale of Land Act and prohibit real estate agents from taking commissions from deposits before settlement | 1 June 2027 |