Have you ever found a property you’re interested in, only to discover there’s little information about how the advertised price was determined?
New NSW property law reforms are being introduced to improve transparency around residential property pricing and advertising. The changes are designed to provide buyers and sellers with clearer information throughout the sales process and strengthen requirements around how price estimates are set and advertised.
Here’s a simple guide to what is changing and what it could mean for you.
1. Clearer Pricing in Property Advertising
One of the most significant changes is the requirement for residential property advertising to include a price or price guide.
This means buyers are more likely to see pricing information when viewing properties online and through other advertising channels, helping them better understand how a property is positioned in the market.
It’s important to remember that a price guide is still an estimate, not a guaranteed sale price. A property’s final sale price may be higher or lower depending on buyer demand, market conditions and negotiations.
The aim of the reform is to make pricing information more transparent and easier to understand from the outset.
2. Price Estimates Supported by Market Evidence
Under the new requirements, agents will need to determine estimated selling prices using comparable recent sales and maintain records explaining how those estimates were reached.
The objective is to ensure advertised pricing is based on available market evidence and can be supported if required.
For buyers, this provides greater confidence that price guides are grounded in actual market activity.
For sellers, it creates a clearer framework for understanding how an estimated selling price has been established.
3. Keeping Advertised Pricing Up to Date
Property markets can move quickly, particularly during an active sales campaign.
The reforms require agents to review estimated selling prices and advertised price guides throughout a campaign where relevant circumstances change, including when offers or market feedback indicate a different likely selling price.
The goal is to make sure advertised pricing remains aligned with current market information and reflects genuine expectations throughout the campaign.
For consumers, this means pricing information should remain more current as the sales process progresses.
4. Introducing the Statement of Information
From February 2027, a new Statement of Information will be introduced for residential properties marketed for sale by an agent.
The Statement of Information is intended to provide buyers with greater visibility into how a property’s estimated selling price has been determined.
The document will include information such as comparable sales and other details prescribed under the new framework.
The objective is to provide a consistent and accessible source of information to support consumers when researching and comparing properties.
What This Means for Buyers
More visibility around pricing
Having access to pricing information upfront can help buyers better assess which properties may suit their budget and requirements before attending inspections.
Greater transparency
Comparable sales information and the future Statement of Information are intended to provide additional context around property pricing and how estimates have been developed.
More informed decision-making
While a price guide remains an estimate, buyers will have access to more information to assist with their own research and market comparisons.
What This Means for Sellers
Evidence-based pricing
Estimated selling prices will need to be supported by comparable market evidence and documented appropriately.
Ongoing campaign reviews
Agents will be required to monitor campaigns and review pricing information where market activity or offers indicate revisions may be necessary.
Improved transparency
The reforms are intended to create greater consistency in how pricing information is communicated throughout the sales process.
When Do the Changes Start?
The NSW Government is implementing the reforms in stages:
From 29 June 2026
· Increased penalties for offences under property and stock agent legislation.
· Stronger enforcement and disciplinary powers for NSW Fair Trading.
From 17 November 2026
· New requirements relating to estimated selling prices.
· Changes to property advertising requirements.
· New obligations regarding comparable sales and record keeping.
From 8 February 2027
· Introduction of the Statement of Information.
· Additional reforms relating to professional standards and compliance requirements.
Looking Ahead
Whether you’re buying, selling or simply keeping an eye on the market, understanding how property pricing works is an important part of making informed property decisions.
These reforms are intended to provide clearer pricing information, greater transparency and more consistency across residential property advertising in NSW. As the changes are rolled out, staying informed will help buyers and sellers better understand what to expect during the property journey.
This article provides general information only and does not constitute legal advice. Information is based on guidance published by NSW Fair Trading at the time of writing. Legislative requirements and implementation details may change. For the latest information, refer to NSW Fair Trading guidance and updates.