McLennan Steege Smith

Independent, Expert Property Valuation

Retrospective Property Valuations

A retrospective valuation, also known as a historical or backdated valuation, is a property price based on a previous date. Historical valuations are commonly used for:

capital gains tax
family law and separation
estate purposes where a current market valuation is not relevant.

McSS are experienced in providing retrospective valuations across a range of property assets, with impartial and unbiased analysis provided at all times.

Purposes of retrospective valuations

Backdated valuations are particularly relevant for capital gains tax (CGT) purposes, especially for investment properties that were acquired after 20 September 1985. A retrospective valuation is critical because CGT liabilities depend not just on how much a property is worth, but also on how much it has increased in value over time.

Our experienced valuers research sales at a particular point in time in order to identify historical market value. Family law and estate cases also depend greatly on retrospective valuations in order to ascertain correct market value.

What we need to get started

In order to get started, our experienced team at McSS require a minimum month and year for the historical valuation. Developing an accurate retrospective figure is not an easy process, with old and unique properties throwing up additional challenges.

Our valuers are extremely diligent and hard-working, however, crawling through databases in order to access historical market data. A brief description of the property in question at a specific point in time is required, including details such as:

kitchen renovations
bathroom renovations
accommodation facilities
additional amenities

Accurate valuations based on historical details

In order to get the most accurate valuation possible, valuers may also conduct a detailed critique of the original valuation if one is available. If the methodology used in the original valuation was inappropriate or errors or assumptions were made, it may be possible to revisit the case and change the outcome to your advantage.

It’s also important to analyse changes to market conditions over time and how they may have impacted the sale price or historical valuation of the property in question. Personal information and historical photos can be a great help during this process, especially when they can be cross-checked with other sources of accurate information.

Independent and trustworthy advice

Here at McSS, we pride ourselves on working alongside our clients to achieve the most accurate retrospective valuations possible. Not only do we utilise the International Valuation Standards prepared by the International Valuation Standards Council, we also understand how certain concepts and definitions need to reflect local Australian taxation laws. We understand how significant a property valuation can be in terms of your tax obligations and go to extreme lengths to get it right every time. Get in touch with now to discuss your needs and we’d be happy to answer any questions you have.

An Honest And Personal Approach

McSS has been assessing and valuing property for well over 25 years and is well respected within the Sydney property industry. We are proud of the fact that much of our business is built on repeat clients and referrals. We offer the following benefits:

Registered valuers with extensive experience and formal qualifications
Adherence to stringent industry standards and a rigorous code of ethics
Accurate, independent and effective reports
Obligation-free quote based on your personal needs
Guaranteed turnaround times to meet the requirements of courts
Ongoing communication and personal service where you deal directly with the valuer
In-depth knowledge of the Sutherland Shire, St George and the Sydney metropolitan area.