Retrospective & Historical Property Valuations

Independent Valuations at a Past Date

A retrospective or historical valuation establishes the market value of a property as at a specified date in the past. These valuations are regularly required for taxation, estate, family law, litigation and other legal or financial purposes.

Leeson Valuers has experience undertaking retrospective valuations where the property, market conditions or surrounding circumstances may have changed significantly since the relevant valuation date.

When Are Retrospective Valuations Required?

Historical valuations may be required for:

• Estate and deceased estate matters;
• Family law and property settlement disputes;
• Litigation and court proceedings;
• Family and property disputes;
• Capital Gains Tax (CGT) purposes;
• GST Margin Scheme calculations;
• Taxation and accounting purposes;
• Historical acquisition or disposal assessments; and
• Other legal or financial matters requiring a market value at a specified past date.

Valuing Property That Has Changed

A key challenge with retrospective valuations is that the property may no longer exist in the same condition as at the relevant valuation date.

The property may have:

• Been sold to another owner;
• Been demolished;
• Been substantially renovated or altered;
• Been subdivided;
• Been redeveloped;
• Had improvements removed or added; or
• Changed in its surrounding environment or planning circumstances.

In some cases, the valuer may have no physical access to the property. Where an internal or on-site inspection is not possible, a kerbside or external inspection may be undertaken, supported by historical photographs, plans, records, aerial imagery, planning information, previous reports and other available evidence.

Historical Market Evidence

A retrospective valuation requires the valuer to reconstruct the market conditions that existed at the relevant valuation date.

Leeson Valuers considers available historical evidence, including:

• Comparable sales occurring around the relevant date;
• Historical property records and photographs;
• Planning and zoning information applicable at the valuation date;
• Property characteristics and improvements existing at that time;
• Historical market trends and conditions;
• Previous valuations and property documentation; and
• Other relevant contemporaneous evidence.

The valuation is based on the information and market evidence reasonably available to the valuer and the circumstances existing as at the nominated valuation date, rather than current market conditions.

Independent & Defensible Historical Valuations

Retrospective valuations can be particularly important where significant financial or legal consequences depend upon the value of a property at a particular point in time.

Leeson Valuers provides independent, well-researched and defensible retrospective valuations, including where the property has subsequently been sold, demolished, redeveloped or materially altered.

Leeson Valuers can provide retrospective and historical property valuations for estate, family law, litigation, CGT, GST Margin Scheme, taxation and other legal or financial purposes.