Retrospective property valuation—also known as a backdated or historical valuation—is used to determine the market value of a property at a specific point in the past. It is commonly required in capital gains tax (CGT) calculations, deceased estate valuations, family law matters, and retrospective accounting purposes.
What Is a Retrospective Property Valuation?
A retrospective property valuation assesses the market value of a property at a historical date, rather than at the time of inspection. The chosen date may be:
- The date of death for deceased estates
- The date a property was inherited or transferred
- The date of relationship breakdown for family law cases
- The date a property was first used to produce income (e.g. when it became a rental)
- The date of acquisition when original purchase records are missing
The valuation report will estimate what the property would reasonably have sold for in an open market transaction on that past date, based on conditions and comparable sales from that time.
When Is a Retrospective Valuation Required?
Capital Gains Tax (CGT)
If you’re using a historical date as your cost base (such as the date of a property’s change in use or inheritance), the ATO may require a retrospective valuation to accurately calculate CGT.
Deceased Estates and Probate
When administering an estate, the value of real estate at the date of death is essential for probate and potential future CGT if the property is sold.
Family Law Property Settlements
A retrospective valuation is often needed to determine asset value at the start or end of a relationship, ensuring fair division of property.
Lost Records
If you’ve lost your original purchase documents, a retrospective valuation can establish the market value at the time of acquisition for tax or legal purposes.
Backdated Accounting or Asset Revaluations
Businesses or trusts may need backdated valuations for balance sheet adjustments or audit compliance.
How Is a Retrospective Valuation Conducted?
While the property is inspected in its current state, the valuer relies on market evidence from the historical date to determine past value. The process includes:
- Physical inspection (where possible) to understand the property’s structure, layout, and condition
- Research of comparable sales around the nominated historical date
- Review of local market trends, zoning laws, and planning overlays in effect at that time
- Use of valuation methods such as direct comparison or capitalisation of income (if applicable)
- Adjustments for renovations or significant changes made after the retrospective date
What’s Included in a Retrospective Valuation Report?
A compliant valuation report will contain:
- The valuation date (historical) and date of inspection
- Full property description
- The valuation methodology used
- Comparable sales data from the retrospective period
- Market commentary relevant to the historical date
- The valuer’s credentials and compliance with Australian standards
This ensures the report can be relied upon by the ATO, courts, legal representatives, and financial institutions.
Who Can Provide a Retrospective Valuation in Australia?
Retrospective valuations must be completed by a:
- Certified Practising Valuer (CPV) – a member of the Australian Property Institute (API)
- Experienced in legal and retrospective assessments
- Independent and without a stake in the property
Some accountants or real estate agents may assist with estimates, but only a qualified valuer’s report is legally defensible.
Cost of Retrospective Property Valuations in Australia
| Property Type | Estimated Cost Range |
| Standard residential property | $600 – $1,500 |
| Investment or CGT valuation | $1,000 – $2,000 |
| Deceased estate or probate property | $1,000 – $2,500 |
| Commercial or rural properties | $2,000 – $5,000+ |
Complex valuations with limited comparable sales or multiple retrospective dates may incur additional fees.
Important Considerations
- Choose the correct retrospective date (ask your accountant or lawyer if unsure)
- Inform the valuer of any changes to the property made after the valuation date
- Maintain records of renovations, ownership changes, and historical photos if available
- Ensure the report is delivered in writing and meets ATO or legal standards
Conclusion
Retrospective property valuation is a powerful tool for handling historical property-related matters, from tax compliance to estate management. Whether you’re lodging a CGT return, administering a will, or navigating a property settlement, an accurate backdated valuation provides clarity and legal certainty.
Always engage a qualified, independent valuer with experience in retrospective work to ensure your report is accepted by the ATO, courts, and all other authorities.
