MEDIA RELEASE
With the 2026 State Election approaching, new independent research commissioned by the Real Estate Institute of Victoria (REIV) has revealed a significant vote of no-confidence in the State Government’s proposed response to underquoting, with 94% of Victorian property owners saying they would fundamentally change their selling strategy if forced to disclose their reserve price seven days before an auction.
The survey of 1,000 Victorian adults comes as the REIV released its state election platform, urging the Victorian Government to adopt a fairer property sector policy approach, righting the balance between stakeholder interests to ensure positive outcomes for all Victorians.
Toby Balazs, REIV CEO said the five key election pillars are headlined by a focus on greater residential property price transparency in response to the state’s underquoting problem.
“The Government’s proposal in its current form is counterproductive and will not achieve it’s intended objective. In fact, it is likely to compromise transparency by triggering inflated reserve prices, a fall in clearance rates and an increase in offers prior to auction as indicated in the survey results.
“What’s more, the survey showed, one in four Victorians (25%) believe the proposed law gives the Government undue say in how much property owners sell their property for, while over a quarter (27%) said it takes control of the decision to sell out of the owner’s hands. For Victorians seeking to sell what is likely to be their biggest financial asset the proposed law is too heavily weighted against property owners,” he said.
Launched at an REIV-hosted industry event in Melbourne’s Federation Square on Thursday night, the Institute’s Fixing the Foundations – REIV Election Priorities 2026 platform document recognises the importance of enhancing the real estate sector’s considerable social and economic impact in Victoria.
Supported by detailed policy recommendations, the pillars represent a reform agenda which seeks to realise the REIV’s vision for:
A robust, resilient and professionally led Victorian property sector that inspires confidence, attracts investment, supports sustainable economic growth, delivers stable and accessible housing outcomes, and strengthens Victoria’s long-term prosperity.
Mr Balazs highlighted the value of drawing on the Institute and its members’ unique insights, gleaned from their day-to-day experiences within the sector, to produce a platform that can help to enlighten public discourse and influence Government policy.
“In the wake of the Victorian state and federal budget releases, amid an ongoing cost-of-living crisis and ahead of November’s state election, this is a critical opportunity to recalibrate property market settings to achieve improved policy outcomes for Victorians,” Mr Balazs said.
“Key to achieving this, as our election platform articulates, is targeted property sector regulatory and tax reform that better balances stakeholder interests. Because what we are continuing to see across much of the sector – not least in the state’s flat-lining rental market – is flawed, one-sided policy initiatives that are failing to address material issues.
The REIV welcomes stakeholder engagement in relation to the platform ahead of the November state election.
Media Contact: media@reiv.com.au 03 9205 6607 www.reiv.com.au