Quick answer
A retrospective valuation (also called a backdated or historical valuation) estimates what a property was worth on a past date. The cost depends mainly on how far back the date is, how much evidence is available and how complex the property is. We confirm the fee after a free first call, before any work starts.
If you need to know what a property was worth on a past date, you need a retrospective property valuation. It is also called a backdated property valuation or a historical property valuation. It is common for capital gains tax, estates and separations, where nobody recorded the value at the time. This guide explains how the retrospective valuation cost is decided and how the process works, so you know what to expect before you book a retrospective valuation.
We do not quote prices in a guide, because the fee depends on the property and the date. What we can do is show you what moves the fee up or down, and how to make the job simpler. Our CGT valuation service covers retrospective reports for owners, executors and accountants.
In this guide
What is a retrospective property valuation?
A retrospective valuation gives the market value of a property as at a date in the past, not today. The valuer uses the sales and market evidence from around that date, and the condition of the property as it was then. The report states the date, the purpose and the evidence, so it can be given to your accountant, solicitor or the tax office.
People also call it a backdated property valuation, a historical property valuation or a past-date valuation. They all mean the same thing.
When do people need one?
A past-date value is commonly needed for:
- Capital gains tax, for example the date a home first became a rental, or the date of a gift
- Inherited property, where the value at the date of death is needed
- Estates and family law matters, where an agreed value at an earlier date is needed
- Self managed super funds, where a past transfer needs a market value
- Disputes, where the value at an earlier date is in question
How is the valuation date chosen?
You or your adviser give us the date. It is usually set by an event: the date of death, the date a property was first rented out, the date of a gift or transfer, or 1 July 2027 for the CGT changes. The valuer values the date you ask for, so if you are not sure which date applies, ask your accountant or solicitor first.
A valuation as at 1 July 2027 can only be finalised after that date has passed and the market evidence for it is available.
What affects the cost of a retrospective property valuation?
The retrospective property valuation cost is set by how much work the valuation needs, not by one fixed price. These are the main things that make a job simpler or more involved:
| What affects it | Usually simpler | Usually more involved |
|---|---|---|
| How far back the date is | A recent date | Many years ago, when evidence is harder to find |
| Evidence available | Good records, photos and past valuations | Few records, or none |
| Type of property | A standard house or unit | Commercial, rural, mixed use or a large site |
| Changes since the date | Little or no change | A major renovation, extension or subdivision |
| Inspection | Records and photos are enough | An inspection is needed to understand the property |
| Purpose and detail | A clear, narrow purpose | A report that must support a dispute or several parties |
We do not quote a price in a guide. After a free first call we give you a firm fee estimate before any work begins.
Want to know what yours would involve?
Tell us the property and the date. We will explain what evidence we would use and confirm the fee before any work starts. The first call is free.
How does the process work?
Here is what to expect from the first call to the report:
- Free first call. Tell us the property, the date and the purpose. We confirm scope, timing and fee before any work starts.
- Evidence gathering. We collect ownership dates, improvements, previous valuations and, where needed, arrange an inspection.
- Valuation and analysis. We analyse sales and market evidence as at your date, under recognised valuation standards.
- Report delivered. A clear report for you and your accountant or adviser.
What evidence helps?
The more you can show about the property at the valuation date, the stronger the report. Useful items include:
- The contract of sale and settlement statement
- Photos from around the date, plus plans and approvals
- Renovation invoices with dates
- Past valuations, insurance values or council rates notices
- Rental history and leases, if the property was rented
- Old sale or listing details
Can you value a property that has changed since?
Yes. We value the property as it was at the date, not as it is now. That is why photos, plans and invoices from the time matter, because they show what the property was like then. A later renovation or extension does not add to the earlier value.
Mistakes to avoid
Common mistakes:
- Guessing the date. Check with your accountant or solicitor which date applies.
- Using today's value. A current estimate does not tell you what the property was worth then.
- Relying on an agent's opinion. It is usually not a formal valuation, and it rarely sets out the evidence.
- Waiting. Evidence is easier to find sooner.
- Not stating the purpose. The report should say what it is for.
Key terms explained
- Retrospective valuation
- A valuation of market value as at a date in the past, prepared from the evidence available for that date.
- Valuation date
- The date the value is worked out for. It is usually set by an event, such as a date of death or a gift.
- Market value
- The price a willing buyer and a willing seller would agree, each acting knowledgeably and without pressure.
- Comparable sales
- Recent sales of similar properties, used as evidence of value.
- Desktop valuation
- A valuation prepared from records, photos and market evidence without visiting the property.
Need a Retrospective valuation? Talk to a valuer.
Tell us the property, the date you need the value for and what it is for. We will tell you what is needed and what it involves.
Free first call. Fee confirmed before work starts. Certified Practising Valuer. Australia-wide.
Sources and further reading
- Australian Taxation Office: Capital gains tax
- Australian Property Institute: The CGT changes and property valuations
This is general information, not tax advice. Speak to your accountant or tax adviser about your own position. A valuation sets out market value at a stated date. It does not work out your tax.