Property buyers in fire-prone areas of the northern suburbs will be warned of the risks from July 31.
Under new laws, sellers will have to disclose in the vendor statement whether their property is in a fire-prone area.
The change was unlikely to affect house prices, according to the Real Estate Institute of Victoria.
REIV chief executive Enzo Raimondo said the information was already publicly available.
“While this increased disclosure will ensure that buyers are better informed and more prepared, whether it becomes a major bargaining point between a buyer and vendor is unclear,’’ he said.
“However, it does not appear likely that there would be a major impact on house prices as a result of this given buyers can already access this information.”
Whittlesea bushfire recovery committee chairman Larry Challis said it was difficult to say if the new law would affect prices in fire zones.
He said the law appeared to strengthen previous requirements that owners disclose whether their property had a “bushfire overlay”.
Consumer Affairs Minister Heidi Victoria said the amendment to the Sale of Land Act 1962 was an important recommendation from the Bushfires Royal Commission into the Black Saturday fires.
She said it was important for buyers to fully research properties.
Last year, Whittlesea council successfully lobbied the state government to lift bushfire zones on 15,500 properties in areas such as Doreen and North Epping.
The council had argued the development of these areas had reduced bushfire risk.
To search addresses for fire risk, visit: land.vic.gov.au
