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Price statement check
Jurisdiction: Victoria only. Victoria's Property Price Statement rules under the Estate Agents Act 1980, for a single residential property in or outside metropolitan Melbourne. Other states have no equivalent statement.
Every Victorian property for sale through an agent has a Property Price Statement: the indicative price, the seller's reserve for an auction, the suburb median and up to three comparable sales. Type in the figures from yours to see which match the published rules, whether the comparable sales are close, recent and alike, and what to ask the agent.
Check your statement
Optional, but it is what makes the comparable check work: pick the property and each comparable sale from the statement, and we measure the distances and compare zones and government school zones from Delora's address data. The search runs in your browser.
Property offered for sale:
Comparable sale 1:
Comparable sale 2:
Comparable sale 3:
Your price statement
Enter the statement’s figures
Each check fills in as you type, with the rule it applies.
Assumptions and sources
- Sources
- Every rule links to the Consumer Affairs Victoria document it comes from, with the date Delora last read it.
- Distances
- Straight-line distances between address points from the national address file. Within 100 m of the limit we say so rather than call it either way.
- Sizes
- Floor and land areas within 10% of the property's count as about the same. That is Delora's choice, not a rule.
- Dates
- The six- or 18-month window counts back from the day the seller signed with the agent, which isn't on the statement, so the date check counts back from the date prepared and says when a sale may be outside.
- Not legal advice
- This shows what the published rules say and what to ask. It can't see the agent's estimate or the offers the seller has had, and it doesn't decide whether anyone broke the law.
- Privacy
- Nothing is uploaded or stored. What you enter is kept only in the page address, so you can share or print the result.
We could not work that out.
The numbers on this page have not changed. Try different numbers, or reload the page. The rates, thresholds and worked examples on this page do not need the calculator.
The rules it checks
Consumer Affairs Victoria approves the Property Price Statement form and the Director publishes guidelines on choosing comparable sales. These are the rules the checker applies, in its words, each linked to the document.
The price and the reserve
- An indicative price is a single price or a range where the top is no more than 10% above the bottom. (Consumer Affairs Victoria, verified 28 Oct 2026)
- Prices are dollar amounts, not modified by words or symbols. (Consumer Affairs Victoria, verified 28 Oct 2026)
- If the seller's reserve is higher than the indicative price, the indicative price must be updated. A reserve lower than the agent's estimate doesn't change it. (Consumer Affairs Victoria, verified 28 Oct 2026)
- For an auction or fixed-date sale, the reserve goes in the statement once the agent has it, and must be published at least 7 days before the day. The sale must not go ahead without it. (Consumer Affairs Victoria, verified 28 Oct 2026)
The suburb median
- The suburb median covers sales in a 3-to-12-month period ending no more than 6 months before the statement was prepared, and names its source. (Consumer Affairs Victoria, verified 28 Oct 2026)
- The statement gives the median price, the property type, the suburb, the period and the source. (Consumer Affairs Victoria, verified 28 Oct 2026)
Which comparable sales count
- The statement lists the three most comparable sales. With only one or two, it lists those and says why there are fewer than three. (Consumer Affairs Victoria, verified 28 Oct 2026)
- Metropolitan Melbourne means the 31 councils in the Director's determination of 12 April 2017; each has its own statement template. (Consumer Affairs Victoria, verified 28 Oct 2026)
- In metropolitan Melbourne a comparable sale is within a two-kilometre radius of the property; elsewhere, within a five-kilometre radius. (Consumer Affairs Victoria, verified 28 Oct 2026)
- In metropolitan Melbourne the sale is in the six months before the seller signed with the agent; elsewhere, the 18 months before. (Consumer Affairs Victoria, verified 28 Oct 2026)
How comparable they are
- Agents must take into account the key features: type of building, bedrooms, bathrooms, car spaces, internal floor space and land size. (Consumer Affairs Victoria, verified 28 Oct 2026)
- Agents must take into account zoning and street frontage. (Consumer Affairs Victoria, verified 28 Oct 2026)
- Agents must take into account whether the properties are in the same or different school zones. (Consumer Affairs Victoria, verified 28 Oct 2026)
- The guidelines also weigh construction, age, style and layout, renovation, wear and tear, and special features such as a pool. You can see those at an inspection; we can't. (Consumer Affairs Victoria, verified 28 Oct 2026)
- Neighbourhood features such as shops, transport, schools and parks count too. (Consumer Affairs Victoria, verified 28 Oct 2026)
- Comparable sales should be of the same build status where available: a new or renovated home may not compare with an older or unrenovated one. (Consumer Affairs Victoria, verified 28 Oct 2026)
- Agents can write "not available" for a key feature of a comparable sale they can't find, such as the floor area. (Consumer Affairs Victoria, verified 28 Oct 2026)
The 31 metropolitan councils
From the Director's determination (Consumer Affairs Victoria, verified 28 Oct 2026). It names the City of Moreland, now called Merri-bek, and spells Stonnington “Stonington”; the checker accepts both names.
- Banyule
- Bayside
- Boroondara
- Brimbank
- Cardinia
- Casey
- Darebin
- Frankston
- Glen Eira
- Greater Dandenong
- Hobsons Bay
- Hume
- Kingston
- Knox
- Manningham
- Maribyrnong
- Maroondah
- Melbourne
- Melton
- Monash
- Moonee Valley
- Moreland (now Merri-bek)
- Mornington Peninsula
- Nillumbik
- Port Phillip
- Stonnington
- Whitehorse
- Whittlesea
- Wyndham
- Yarra
- Yarra Ranges
Worked example
A made-up metropolitan statement, prepared on 20 October 2026: $900,000 to $990,000, a reserve of $1,050,000 for an auction on 14 November, a suburb median for April to September 2026 with its source, and two comparable sales with a reason for fewer than three. No addresses, so distance, zone and school zones are left unchecked.
The price, the reserve and the median
Indicative priceMatches the rule
$900,000 to $990,000: the top is 10.0% above the bottom.
The rule: An indicative price is a single price or a range where the top is no more than 10% above the bottom. (Consumer Affairs Victoria, verified 28 Oct 2026)
Words or symbols with the priceMatches the rule
The price is shown as dollar amounts only.
The rule: Prices are dollar amounts, not modified by words or symbols. (Consumer Affairs Victoria, verified 28 Oct 2026)
Reserve against the indicative priceDoesn't match the published rule
The reserve ($1,050,000) is above the indicative price ($900,000 to $990,000). When that happens the rule says the indicative price must be updated.
The rule: If the seller's reserve is higher than the indicative price, the indicative price must be updated. A reserve lower than the agent's estimate doesn't change it. (Consumer Affairs Victoria, verified 28 Oct 2026)
Reserve published in timeMatches the rule
The statement shows a reserve of $1,050,000.
The rule: For an auction or fixed-date sale, the reserve goes in the statement once the agent has it, and must be published at least 7 days before the day. The sale must not go ahead without it. (Consumer Affairs Victoria, verified 28 Oct 2026)
Suburb median periodMatches the rule
1 Apr 2026 to 30 Sep 2026: about 6 months, ending under a month before the statement was prepared.
The rule: The suburb median covers sales in a 3-to-12-month period ending no more than 6 months before the statement was prepared, and names its source. (Consumer Affairs Victoria, verified 28 Oct 2026)
Median source namedMatches the rule
The statement names where the median comes from.
The rule: The statement gives the median price, the property type, the suburb, the period and the source. (Consumer Affairs Victoria, verified 28 Oct 2026)
Number of comparable salesMatches the rule
2 listed, with a reason for fewer than three.
The rule: The statement lists the three most comparable sales. With only one or two, it lists those and says why there are fewer than three. (Consumer Affairs Victoria, verified 28 Oct 2026)
Metropolitan or notCan't check yet
Using the metropolitan rule, from the statement's title. Pick the property's address to check it.
The rule: Metropolitan Melbourne means the 31 councils in the Director's determination of 12 April 2017; each has its own statement template. (Consumer Affairs Victoria, verified 28 Oct 2026)
The comparable sales
Comparable sale 1
DistanceCan't check yet
Pick this sale's address and the property's to measure the distance.
The rule: In metropolitan Melbourne a comparable sale is within a two-kilometre radius of the property; elsewhere, within a five-kilometre radius. (Consumer Affairs Victoria, verified 28 Oct 2026)
When it soldMatches the rule
Sold 15 Aug 2026, 2 months before the statement was prepared: inside the 6-month window.
The rule: In metropolitan Melbourne the sale is in the six months before the seller signed with the agent; elsewhere, the 18 months before. (Consumer Affairs Victoria, verified 28 Oct 2026)
Planning zoneCan't check yet
Pick this sale's address and the property's to compare zones.
The rule: Agents must take into account zoning and street frontage. (Consumer Affairs Victoria, verified 28 Oct 2026)
Government school zonesCan't check yet
Pick this sale's address and the property's to compare school zones.
The rule: Agents must take into account whether the properties are in the same or different school zones. (Consumer Affairs Victoria, verified 28 Oct 2026)
Key featuresWorth asking
Differs from the property: 1 more bedroom, 1 more bathroom.
The rule: Agents must take into account the key features: type of building, bedrooms, bathrooms, car spaces, internal floor space and land size. (Consumer Affairs Victoria, verified 28 Oct 2026)
Price against the indicative priceWorth asking
Sold for $1,010,000, 2.0% above the top of the indicative price ($990,000).
The rule: Ask the agent to explain how they developed the price information they give you. (Consumer Affairs Victoria, verified 28 Oct 2026)
Comparable sale 2
DistanceCan't check yet
Pick this sale's address and the property's to measure the distance.
The rule: In metropolitan Melbourne a comparable sale is within a two-kilometre radius of the property; elsewhere, within a five-kilometre radius. (Consumer Affairs Victoria, verified 28 Oct 2026)
When it soldWorth asking
Sold 10 Mar 2026, 7 months before the statement was prepared. The window counts back from the day the seller signed with the agent, which isn't on the statement, so this may be outside it.
The rule: In metropolitan Melbourne the sale is in the six months before the seller signed with the agent; elsewhere, the 18 months before. (Consumer Affairs Victoria, verified 28 Oct 2026)
Planning zoneCan't check yet
Pick this sale's address and the property's to compare zones.
The rule: Agents must take into account zoning and street frontage. (Consumer Affairs Victoria, verified 28 Oct 2026)
Government school zonesCan't check yet
Pick this sale's address and the property's to compare school zones.
The rule: Agents must take into account whether the properties are in the same or different school zones. (Consumer Affairs Victoria, verified 28 Oct 2026)
Key featuresMatches the rule
Key features about the same as the property's.
The rule: Agents must take into account the key features: type of building, bedrooms, bathrooms, car spaces, internal floor space and land size. (Consumer Affairs Victoria, verified 28 Oct 2026)
Price against the indicative priceMatches the rule
Sold for $940,000, inside the indicative price.
The rule: Ask the agent to explain how they developed the price information they give you. (Consumer Affairs Victoria, verified 28 Oct 2026)
Questions it gives you for the agent
- The reserve is above the indicative price: when will the indicative price be updated? (Consumer Affairs Victoria, verified 28 Oct 2026)
- Sale 1 differs in its key features. Why is it among the most comparable? (Consumer Affairs Victoria, verified 28 Oct 2026)
- Sale 1 sold above the top of the indicative price. Why is the price lower than that sale? (Consumer Affairs Victoria, verified 28 Oct 2026)
- When did the seller sign with you? Sale 2 may be outside the window that counts back from that day. (Consumer Affairs Victoria, verified 28 Oct 2026)
- How did you work out the indicative price, and has it changed since the statement was prepared? (Consumer Affairs Victoria, verified 28 Oct 2026)
- Has the seller rejected a written offer because it was too low? The indicative price must not be less than such an offer. (Consumer Affairs Victoria, verified 28 Oct 2026)
- Has the seller told you an amount they would accept? The indicative price must not be less than that either. (Consumer Affairs Victoria, verified 28 Oct 2026)
- Did a substantially similar property nearby sell in the period, such as one in the same complex or estate? It must be taken into account. (Consumer Affairs Victoria, verified 28 Oct 2026)
What to ask the agent about any statement
Some rules can only be checked by the agent: the indicative price must not be less than their estimate, a written offer the seller rejected as too low, or an amount the seller said they would accept. Ask.
- How did you work out the indicative price, and has it changed since the statement was prepared? (Consumer Affairs Victoria, verified 28 Oct 2026)
- Has the seller rejected a written offer because it was too low? The indicative price must not be less than such an offer. (Consumer Affairs Victoria, verified 28 Oct 2026)
- Has the seller told you an amount they would accept? The indicative price must not be less than that either. (Consumer Affairs Victoria, verified 28 Oct 2026)
- Did a substantially similar property nearby sell in the period, such as one in the same complex or estate? It must be taken into account. (Consumer Affairs Victoria, verified 28 Oct 2026)
The statement must be on the online listing, at every inspection, and given to you within two business days if you ask. (Consumer Affairs Victoria, verified 28 Oct 2026)
If you still think it breaks the rules
A home selling above its advertised price does not always mean the rules were broken: buyers competing can push the price up. (Consumer Affairs Victoria, verified 28 Oct 2026)
Ask the agent first. If the answers don't settle it, Consumer Affairs Victoria takes reports. To report it to Consumer Affairs Victoria you need the address, your contact details, the agent's details, screenshots of the advertisement, the Property Price Statement, anything the agent put in writing, and why you think it is wrong. CAV doesn't answer every report but keeps them all for its compliance work. (Consumer Affairs Victoria, verified 28 Oct 2026)
Consumer Affairs Victoria's report form · CAV's guide to property prices for buyers
Frequently asked
Does this tell me whether the agent underquoted?
No. It checks the parts of the statement a buyer can check against the published rules, and turns the rest into questions. Whether the law was broken depends on things only the agent and seller know, such as the agent's estimate and the offers the seller has had. Consumer Affairs Victoria decides that, not Delora.
Is anything I type uploaded or saved?
No. Nothing leaves your browser except the address search, which reads Delora's own static address files. The figures are kept only in the page address, so you can bookmark, share or print the result. See Privacy.
Where do I get a Property Price Statement?
From the online listing (it must be next to the price), at any inspection, or from the agent, who must give it to you within two business days of a request.
Why does it ask which statement it is?
There are separate statements for a property in metropolitan Melbourne and for one outside it, with different comparable-sale rules: two kilometres and six months, or five kilometres and 18 months. If you pick the property's address, the checker also tests the statement against the council's place in the Director's list of metropolitan councils.
Why are some results "worth asking" rather than wrong?
Because the rule is about what the agent must take into account, not a test the sale must pass. A comparable sale in a different zone or school zone can still be the most comparable one available; the agent should be able to say why it was chosen.
Does it cover a statement for several units in a development?
Not yet. That statement uses a different form, with prices by unit type. This checker covers the statement for a single residential property, in or outside metropolitan Melbourne.
Sources and methodology
- Property Price Statement: single residential property located in the Melbourne metropolitan area (approved template and instructions) | Consumer Affairs Victoria — Consumer Affairs Victoria (retrieved 28 Oct 2026). Licence: CC BY 4.0
- Property Price Statement: single residential property located outside the Melbourne metropolitan area (approved template and instructions) | Consumer Affairs Victoria — Consumer Affairs Victoria (retrieved 28 Oct 2026). Licence: CC BY 4.0
- Industry Q&As: New changes to property sales and underquoting laws | Consumer Affairs Victoria — Consumer Affairs Victoria (retrieved 28 Oct 2026). Licence: CC BY 4.0
- Director's guidelines for determining properties that are comparable to a residential property that is to be sold (Estate Agents Act 1980 s.47AD(1)) | Consumer Affairs Victoria — Consumer Affairs Victoria (retrieved 28 Oct 2026). Licence: CC BY 4.0
- Determination of the Melbourne Metropolitan Area (Estate Agents Act 1980 ss.47AC and 47AD) | Consumer Affairs Victoria — Consumer Affairs Victoria (retrieved 28 Oct 2026). Licence: CC BY 4.0
- Understanding property prices and underquoting for buyers | Consumer Affairs Victoria — Consumer Affairs Victoria (retrieved 28 Oct 2026). Licence: CC BY 4.0
Figures on this page are drawn from Delora's local knowledge graph, refreshed from these primary sources and checked for changes on a regular schedule. If a figure here looks out of date, the official source above is always the authority — please let us know.
Evidence record