ABSTRACT
The valuation of a plot of land suitable for constructing a single residential unit and the valuation of an area of land suitable for development as an estate of houses both lend themselves to valuation by use of the residual method. However, throughout the exercise the valuer will be juggling so many conflicting and complimentary variables that in the end market experience may count for as much as the mathematics in formulating a final opinion of value. In practice the larger the site and/or the larger the potential scheme of development the greater will be the number of variables and imponderables and the greater will be the complexity of the appraisal exercise.
