Melbourne homeowners race to auction before new rules begin

The Real Estate Institute of Victoria is calling on the state government to provide clarity about the upcoming changes to reserve disclosure laws. Right picture: NewsWire/David Crosling. A leading Melbourne auctioneer has reported a massive bookings surge for the weeks before the Victorian government’s controversial reserve price disclosure laws are introduced. Industry figures are also calling for clarity on the legislation’s finer points, before its due to come into effect on October 1 with a two-week grace period. The changes will require homeowners to reveal a reserve price seven days ahead of a residential sale date, however it remains unclear if vendors who choose to lower their reserve will need to re-set their auction date for a further seven days. RELATED: Victorian auction reforms: Why reserve bid may not secure home Melbourne’s spring auction market faces softest start since Covid Melbourne suburbs where fourth bedrooms come surprisingly cheap Apollo Auctions general manager Greg Brydon, winner of the 2026 Australasian Auctioneering Championships, said there had been a big influx of bookings for September and early October with agents and owners hoping to get in “before ...