Victoria's New Reserve Price Law Will Change The Block Auction

The reforms began on 1 October and apply to residential auctions and fixed-date sales held from 16 October 2026. That timing means the Mount Eliza properties are expected to fall under the new disclosure regime if Auction Day takes place after the threshold date.

The Reserve Must Be A Single Dollar Amount

Under the new rules, the selling agent must publish the seller's reserve price at least seven days before the auction. It cannot be presented as a range or softened with words such as "from" or "over".

The reserve must appear as one exact dollar amount across advertising and in the new Property Price Statement. If it is not published for the full seven-day period, the auction cannot proceed.

A seller can still change the reserve, but doing so restarts the seven-day clock. That makes a last-minute adjustment much harder without also moving the auction date.

The Change Could Help Serious Buyers

Lisa and Rosco's auctioneer, Mark Nunn, believes the added transparency could be positive. Buyers will know in advance whether a property is genuinely within reach, which may encourage the right bidders to arrive prepared.

That does not guarantee a bidding war. A published reserve can also give buyers a clearer starting point and remove some of the uncertainty that usually powers the show's auction-day drama.

For contestants, however, knowing the number early may reduce the emotional shock of discovering it shortly before the sale.

The Price Guide Is Not The Final Reserve

The homes are currently advertised with a $3.6 million to $3.9 million guide. That range should not be confused with the exact reserve the new law requires.

Once the sellers settle on their figures, the reserves will need to be disclosed as precise amounts. Those numbers will determine how much each team must clear before any auction profit begins.

The change is designed to improve transparency and reduce underquoting across Victoria. For The Block, it also changes a familiar piece of finale theatre: viewers, contestants and buyers may all know the target before the first bid is called.