If you’ve inherited property in Western Australia, a professional valuation is more than just a number—it’s a critical step in managing the estate, ensuring tax compliance, and fairly distributing assets among beneficiaries.
This article explains how property valuation for inheritance works in WA, when it’s required, who should provide it, and how it supports legal and financial processes such as probate and capital gains tax.
Why You Need a Property Valuation for Inheritance in WA
A valuation is commonly needed to:
- Support an application for Probate or Letters of Administration
- Determine the market value at the date of death for capital gains tax (CGT) purposes
- Facilitate fair asset distribution among beneficiaries
- Provide evidence in family provision claims or disputes
- Assist in selling or transferring the property out of the estate
In WA, a valuation ensures executors meet their legal obligations and protects all parties involved in the estate.
What Is the Relevant Valuation Date?
The property must be valued as at the date of death of the deceased. This becomes:
- The cost base for CGT if the property is later sold
- The value reported in probate applications
- A reference point for beneficiary distribution
If the property is sold shortly after death, the sale price may reflect market value. However, if there’s a delay or dispute, a formal retrospective valuation is preferred.
Who Can Provide an Inherited Property Valuation in WA?
The valuation must be performed by a:
- Certified Practising Valuer (CPV)
- Member of the Australian Property Institute (API)
- Independent and qualified to conduct retrospective valuations
Real estate agent appraisals are not suitable for probate or legal purposes as they lack formal valuation status.
What’s Included in a Deceased Estate Valuation?
A formal valuation for inheritance purposes includes:
- The valuation date (typically date of death)
- Full description of the property
- Comparable sales evidence from the relevant timeframe
- Methodology used (typically direct comparison)
- Market commentary
- The valuer’s qualifications and signature
The report can be used for probate applications, ATO reporting, or legal challenges.
How Is an Inherited Property Valued in WA?
Most deceased estate properties are valued using the direct comparison approach, where the valuer assesses:
- Recent sales of similar properties in the same suburb
- Land size, zoning, and improvements
- Property condition at the time of death
- Location, views, access, and amenities
Valuers may rely on historical listings, photographs, or estate agent records to determine the condition of the property at the time of death.
Probate and the Role of Valuation in WA
In Western Australia, applying for probate or letters of administration through the Supreme Court requires declaring the gross value of the estate. For properties, this means providing a justified market value.
Executors who fail to report accurate values may face:
- Legal disputes
- Beneficiary objections
- Tax penalties if CGT is not correctly calculated later
A valuation ensures transparency and fairness throughout the process.
Capital Gains Tax (CGT) and Inherited Property
If the beneficiary later sells the property, CGT may apply. The key points include:
- The value at date of death becomes the cost base
- CGT only applies to gains made after inheritance
- If the property is sold within two years, exemptions may apply (main residence rule)
- A valuation protects beneficiaries from overpaying CGT in future
Consulting an accountant alongside the valuer is recommended to manage CGT effectively.
Cost of Inherited Property Valuation in WA
| Property Type | Estimated Fee Range |
| Standard residential property | $600 – $1,200 |
| Rural or lifestyle properties | $1,500 – $3,000 |
| Commercial or multi-use assets | $2,000 – $4,000+ |
Fees may vary depending on location, complexity, and whether a retrospective or current valuation is required.
How to Arrange a Valuation
- Contact a WA-based certified valuer
- Provide the deceased’s name and date of death
- Share any relevant documents (wills, property photos, agent letters)
- Request a retrospective market valuation for probate or CGT
- Use the report in your dealings with the Supreme Court, ATO, or estate lawyers
Conclusion
Inheriting property in WA involves not just emotion, but also legal and financial responsibilities. A professional property valuation provides a clear, fair, and defensible value that can be used for probate, tax, and estate planning.
Whether you’re acting as an executor or a beneficiary, getting the property valued by a qualified, independent valuer ensures the estate is administered smoothly, accurately, and in compliance with WA law.
