20  Nov 2025

CPRC WELCOMES THE GOVERNMENT’S ACTION TO ADDRESS UNDERQUOTING

The Consumer Policy Research Centre (CPRC) welcomes the Victorian Government’s announcement of new reforms to address underquoting in the housing market by requiring disclosure of reserve prices a week before an auction.

Underquoting has been a long-standing concern raised by CPRC, with research in 2022 revealing the impact of the harm on Victorian homebuyers.

CPRC research found:

• More than a quarter of Victorian buyers believed they had experienced underquoting, with many paying for building inspections and legal checks on properties ultimately well outside their budget.
• 1 in 7 reported an agent encouraged them to put in an offer higher than the top of the advertised price band.
• 78% wanted a more transparent bidding processes and 75% supported requirements for vendors to publish reserve prices before auctions.

“These reforms will improve transparency and trust in the property market. Clearer expectations and stronger enforcement will ensure people aren’t misled or pressured during high pressure auctions”

“Buying a home is one of the biggest decisions people make. Reforms that make pricing clearer and more honest will help reduce wasted time, emotional strain, and the financial costs created by underquoting,” CPRC CEO Erin Turner said.

CPRC looks forward to reviewing the detail and working with government to support implementation.

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MEDIA ENQUIRIES 

CPRC
Liliana Campos
Communications Manager
T: +61 (0) 493 539 466
E: liliana.campos@cprc.org.au