Perth Retrospective Property Valuation
WA Valuers are the leading property valuation company in Perth and the greater Western Australia region. We provide a full range of service, catering to all property types and requirements, including retrospective property valuations. Our expert valuers have over 20 years of experience each and are qualified with the Australian Property Institute (API). This allows us to be able to ensure the highest industry standard is being met for all valuation reports we provide.
What is a retrospective property valuation?
A retrospective valuation is also commonly called a backdated property valuation, which provides some insight into its purpose. Retrospective property valuations calculate the value of a property not at the current market value, but for a selected date in the past. This is a specialised service, as most property valuation requirements require the market value for the current date.
In the same way as a current market valuation, a retrospective property valuation in Perth requires extensive market research from the property valuer. They must find relevant property market data from the date of valuation, as well as local comparable sales. In the case of a retrospective property valuation, the date provided must be from the required backdate, meaning the valuer will find relevant sales around the selected date.
To correctly calculate a backdated value, the property valuer will need to consider:
- The state of the property market at the retrospective date
- The condition of the property at the retrospective date
- Any comparable sales of properties in the local area at the retrospective date
When are retrospective property valuations needed?
There are a variety of situations when retrospective property valuations are needed. Often these will be regarding government or taxation requirements where a retrospective property valuation is needed to ensure compliance. Some examples of situations which require an accurate value of a property for a selected retrospective date include:
- Certain government grant submissions
- For probate situations to calculate the property value on the DOD
- Capital Gains Tax valuations
Capital gains tax is one of the more common reasons for requiring a retrospective property valuation. This is because in order to correctly determine the CGT liability, the property’s value at the initial date of ownership must be known.
Retrospective Property Valuation Perth
Retrospective valuation is a complex process which require in depth research as well as industry knowledge. To correctly determine this, a licensed property valuer will be able to utilise their experience, as well as property databases which allow them to access relevant sales and market information for the retrospective date.
At WA Valuers, all our property valuers are Certified Practising Valuers (CPVs) accredited by the Australian Property Institute (API), and many also hold AVI and RICS qualifications. With over 20 years of local experience, our experts have a wealth of knowledge on the property market and specialise in a range of valuation services—including retrospective assessments. This extensive expertise guarantees that every valuation report is accurate, comprehensive, and meets the highest industry standards.
If you require a backdated property valuation, or have any further enquiries, please contact us on (08) 9468 3290 or fill out an online enquiry form. We are always happy to help in any way we can!