Victorian Property Price Statement (PPS) Changes from 1 October 2026
Add as a preferred source on Google
This information is for OpenLot clients with Victorian listings
From 1 October 2026, the Consumer Legislation Amendment Act 2026 changes what must appear on Victorian property listings and Property Price Statements (PPS), formerly called the Statement of Information (SOI). This document explains what's changing and how to keep your OpenLot listings compliant.
Read the full details from Consumer Affairs Victoria: New changes to property sales and underquoting laws.
Summary of what you need to know:
- Every PPS must include new information: It must list key features of the lot and key features of comparable properties.
- When a lot or house and land package sells, upload a PPS with the sold price within 7 days: The 7 days start when the sale becomes unconditional.
- Reserve prices: Given OpenLot does not list auctions or fixed date listing, you do not need to add a reserve price on OpenLot (however if you sell a lot by one of these methods through another channel, you'll need to meet the reserve price requirements on that channel.
What's changing?
What the law now requires | Does it apply on OpenLot? | What do you need to do? |
|---|---|---|
| The PPS must include key features of the lot and of comparable properties | Yes | Use the new PPS format for every lot from 1 October 2026 |
| The sold price must be added to the PPS | Yes | Upload a PPS with the sold price within 7 days of the sale becoming unconditional |
| The PPS must stay on the sold listing for at least 18 months | Yes, OpenLot does this for you | Nothing. Sold listings and their PPS stay on OpenLot indefinitely |
| A reserve price must be shown on auction and fixed-date sale listings | No, OpenLot doesn't offer these listing types | Nothing on OpenLot |
How do I upload a PPS?
From 1 October 2026 upload a PPS to the lot every time you create or update it. This includes when you add the sold price. Make sure your PPS uses the new format and includes key features of the lot and of comparable properties.
Step 1: Login to the OpenLot Dashboard
Step 2: Go to your Project or Builder edit page
Step 3: Upload the PPS file in the field titled “Property Price Information / Price Guide”
Step 4: Click publish
Step 5: Open the live listings to check the PPS appears
How do I add a sold price?
Add the sold price to the PPS within 7 days of the sale becoming unconditional, unless an exemption applies.
Step 1: Open the OpenLot Dashboard
Step 2: Change the sales status to Sold
Step 3: Enter the sold price in the price field
Step 4: Upload the updated PPS that includes the sold price
Step 5: Click Save and check the sold listing
Note: OpenLot meets the 18-month requirement because sold listing data, including the PPS, stays on OpenLot indefinitely. You only need to make sure the PPS with the sold price is uploaded within the 7-day timeframe.
Do I need to add a reserve price?
No, not on OpenLot. The new reserve price rules only apply to auction and fixed-date sale listings, and OpenLot doesn't support either listing type.
If you sell a lot by auction or fixed-date sale through another channel, you'll need to meet the reserve price requirements on that channel.
Do the changes apply to estate listings?
Based on OpenLot's understanding of the legislation, the PPS changes do not apply at the estate level, because an estate listing is not an individual property listing. The requirements apply to individual lot and property listings.
This is a general interpretation only. It is not legal advice, a warranty or a legally binding position. Please confirm how the changes apply to you with your own legal adviser or Consumer Affairs Victoria.
Still need help?
Contact your OpenLot Client Partner for further information and support.
The information in this document is general in nature and does not consider your circumstances. OpenLot makes no warranty as to its accuracy, completeness or reliability, and accepts no liability for any errors or omissions or for reliance on it.
