What is a retrospective property valuation?
A retrospective property valuation assesses market value at a date in the past. It considers the property and market as they stood at that date. The report is prepared now and clearly identifies the historical date being valued; it does not simply apply today’s value to an earlier year.
When is a historical valuation useful?
An accountant, solicitor or other adviser may request historical market-value evidence for a tax matter, deceased estate, ownership transfer or legal dispute. Ask the adviser to specify the purpose, date and intended recipient before ordering.
- CGT-purpose valuations: market-value evidence for the date your tax adviser identifies.
- Estate administration: a valuation date and instructions confirmed by the executor’s adviser.
- Family law matters: evidence for the date and scope specified in the instructions.
- Property transfers: historical evidence where required for the transaction.
How does a valuer assess a past value?
The valuer reviews sales and market evidence relevant to the nominated date, together with records of the property’s condition, improvements and circumstances at that time. Later renovations, subdivision or changes in use need to be distinguished from the property that existed on the valuation date.
Documents that help reconstruct the property
- Historical photographs, sale listings and previous valuation reports.
- Plans, approvals and records showing when alterations occurred.
- Purchase documents, title information and relevant leases.
- Details of the property’s use and condition at the nominated date.
- Your adviser’s written instructions and the required deadline.
You do not need to have every document before enquiring. Identify what is available so the valuer can assess whether the evidence supports the assignment and explain any limitations.
What should the report explain?
The report should identify the historical valuation date, purpose, evidence, approach, assumptions and value conclusion. It should distinguish the date being valued from the report’s preparation date. Confirm the recipient’s provider and reporting requirements before commissioning the work.
Cost and timing
The property, historical date, complexity and availability of archived evidence influence the work involved. Propti helps coordinate a quote for the required scope. Confirm the expected delivery date and any further information needed before proceeding.
Frequently asked questions
How far back can a retrospective valuation go?
There is no single practical timeframe for every property. The valuer needs sufficient evidence for the nominated date. Provide that date and the records you hold so feasibility can be assessed.
Is a retrospective valuation the same as a CGT valuation?
Retrospective describes the date being assessed. CGT describes a purpose for the report. A CGT-purpose valuation may be retrospective, but historical valuations can also support other assignments.
Does the property need to be inspected now?
The valuer determines the inspection requirements. A current inspection may help identify the property, but historical records are also needed to understand its condition and improvements at the relevant date.
Will the report calculate my tax liability?
No. The valuation supplies market-value evidence. Your accountant determines the tax treatment and any calculation relevant to your circumstances.
Arrange a historical valuation
Compare property valuation services or request a quote with the property address, nominated date and adviser’s instructions.