A Statement of Information can help Victorian buyers understand the quoted price range, but it is not a valuation and it is not a promise about the final sale price. It is one piece of evidence to read alongside the property itself.

Start with the indicative selling price. Buyers should note the range and then ask whether it feels consistent with the property’s condition, land size, location, floorplan and recent comparable sales. If the range looks low compared with similar results, it deserves scrutiny.

The comparable sales are the most useful section, but only if they are genuinely comparable. A renovated house on larger land, a different school zone or a sale from a stronger market moment may not tell the full story. Buyers should adjust for the differences rather than treating the list as automatic proof.

Suburb median information can provide context, but it is broad. A suburb median may combine houses, units, different land sizes and very different property conditions. It should not replace a property-specific assessment.

Buyers should also compare the Statement of Information with their own research. Recent sold results, current competing listings, building condition and contract terms all help test whether the guide is reasonable.

At auction, the guide should not become the buyer’s limit by default. The limit should come from borrowing comfort, comparable evidence and the buyer’s own risk tolerance.

The Statement of Information was most useful when read critically. It could guide a buyer’s thinking, but it could not do the thinking for them.

This article is general information only and doesn’t take your personal circumstances into account. It is not financial or legal advice. Before acting, consider seeking advice from a qualified professional such as a licensed broker, conveyancer or solicitor.