Short answer
The inspection date is the date the valuer inspected the property. The valuation date is the date at which the value opinion applies.
Those dates are often the same in a current valuation, but they do not have to be. They can be different in retrospective valuations, update reports, desktop assessments or matters where the property was inspected after the required valuation date.
The distinction matters because market conditions, property condition, available evidence and assumptions may differ between the inspection date and the valuation date.
Why the distinction matters
A valuation is an opinion as at a specific date. That date is not just an administrative detail.
The sales evidence, market conditions, property circumstances and assumptions should be relevant to the valuation date.
The inspection date records when the valuer observed the property. It assists with understanding what the valuer could verify directly, but it does not always set the date of value.
What is the valuation date?
The valuation date is the effective date of the value opinion.
It may be the current date, a historical date or another date specified in the instructions.
Common examples include the date of inspection for a current valuation, a contract date, transfer date, date of death, separation date, date of first income-producing use or another date confirmed by the client, solicitor, accountant or relevant authority.
A report should state the valuation date clearly.
What is the inspection date?
The inspection date is the date on which the valuer physically inspected the property, if an inspection was completed.
An inspection may be internal and external, external only or kerbside, depending on the instruction. A desktop assessment may have no physical inspection date.
The inspection date assists the reader in understanding the physical condition observed by the valuer and any limitations affecting that observation.
When the dates are the same
For many current market valuations, the inspection date and valuation date may be the same or very close.
This can occur where the valuer inspects the property, analyses current evidence and prepares a report as at the inspection date or another recent date.
Even then, the report should still identify the valuation date and inspection date separately where relevant.
When the dates are different
The dates may differ where the valuation is retrospective, where access occurs after the relevant valuation date, or where the report is prepared after the property circumstances have changed.
Examples may include:
- A date-of-death valuation inspected after the date of death
- A Capital Gains Tax valuation as at a historical date
- A Family Law valuation as at a specified past date
- A Stamp Duty valuation as at a transaction date
- A valuation update relying on a prior inspection
- A property inspected after renovations, damage or occupation changes
Where the dates differ, the report should explain the basis on which the property condition and market evidence have been considered.
Retrospective valuations
A retrospective valuation is prepared as at a past date.
The valuer may inspect the property currently, but the value opinion still relates to the historical valuation date. The valuer needs to consider evidence and market conditions relevant to that historical date.
The valuer may also need to rely on historical photographs, sale listings, plans, records, owner information or assumptions about the property’s condition at the valuation date.
Property condition between dates
Property condition can change between the valuation date and inspection date.
Renovations, damage, demolition, incomplete works, tenancy changes, maintenance issues or changes in use may affect how the property should be assessed.
If those matters are material, the report may need to state assumptions about the property’s condition at the valuation date.
For example, where your adviser confirms that the relevant 2027 CGT transition provisions apply, a report prepared later may assess market value immediately before 1 July 2027. The inspection and report dates remain separate from the effective valuation date. Read the 2027 CGT valuation guide.
Discuss your valuation instruction
If you need market value assessed as at a past date, send Northbourne Valuers the property address, purpose, required date if known, and a brief description of the historical records available. We can explain the proposed scope and information needed for properties in Canberra, the ACT and surrounding NSW. The appropriate legal or tax adviser should confirm any legally required date.
Read about Northbourne Valuers’ valuation services
Related glossary
- Date of Valuation
- Date of Inspection
- Retrospective Valuation
- Current Market Valuation
- Inspection Basis
- Assumption
- Limitation
- Market Evidence
Related articles
- Professional Standards and Valuation Report Use
- What is a valuation scope of work?
- What are assumptions and limitations?
- What happens during a property inspection?
- Can a valuation be updated after it is completed?
- Can a valuation report be reused?
- Retrospective CGT valuations
Related services
Prepared by:
Tigran Amiyants, Certified Practising Valuer (CPV), Managing Director, Northbourne Valuers.
Last reviewed:
12 September 2026.
General information note:
This page provides general information only and does not constitute valuation, legal, taxation, financial or professional standards advice. Every valuation depends on the specific property, purpose, valuation date, evidence, assumptions and instructions. Legal, taxation, financial and other specialist matters should be discussed with the appropriate qualified adviser.