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Below is a summary of 2016 census data from the Canterbury-Bankstown Local Government Area (LGA), which is an LGA located in New South Wales, Australia. Based on this summary table, you are setting up a development plan. Conducting a thorough market analysis is required to complete a successful development.

Question 1.

The Highest and Best Use Analysis (HBUA) arises from the fact that land is a productive factor that can have multiple uses. Understanding the highest and best use is fundamental to the valuation and the productive development of land. Use the site information below and the information within the census information to answer Question 1.

Site information

The site is a 950sqm flat vacant site located in a R3 Zoning NSW Medium Density Residential Zone in the Canterbury-Bankstown Local Government Area. The height restrictions on the land allow for 2 storey buildings. There are no overlays on the site. The site is located close to a train station, a retail precinct, and several schools.

1. Using the above information about the site in the Canterbury-Bankstown Local Government Area, propose a basic development proposal overview for the site.
2. Demonstrate how your development is the Highest and Best Use by using the four (4) criteria of the HBUA. Make assumptions where necessary within your answer

Age % New South Wales % Canterbury Bankstown 35 Australi a % Median age 38 38 0-4 years 24,976 7.2 465,135 6.2 1,464,77 9 6.3 5-9 years 24,182 7.0 478,184 6.4 1,502,64 6 6.4 10-14 years 21,883 6.3 443,009 5.9 6.0 1,397,18 3 1,421,59 5 15-19 years 21,865 6.3 448,425 6.0 6.1 20-24 years 24,494 7.1 489,673 6.5 1,566,79 3 6.7 25-29 years 26,488 7.6 527,161 7.0 7.1 30-34 years 26,567 7.7 540,360 7.2 1,664,60 2 1,703,84 7 1,561,67 9 7.3 35-39 years 23,995 6.9 499,724 6.7 6.7 40-44 years 22,859 6.6 503,169 6.7 1,583,25 7 6.8 45-49 years 22,021 6.4 492,440 6.6 1,581,45 5 6.8 50-54 years 21,786 6.3 485,546 6.5 1,523,55 1 6.5 55-59 years 20,110 5.8 469,726 6.3 1,454,33 2 6.2 60-64 years 16,828 4.9 420,044 5.6 1,299,39 7 5.6 65-69 years 14,087 4.1 384,470 5.1 1,188,99 9 5.1 10,810 3.1 292,556 217,308 3.9 887,716 3.8 2.9 652,657 2.8 8,881 2.6 70-74 years 75-79 years 80-84 years 85 years and over 6,986 2.0 155,806 2.1 460,549 2.0 2.2 486,842 2.1 7,487 2.2 167,506 Australi Canterbury- Bankstown % New South Wales % % Registered marital status People aged 15 years and over Married a 141,342 51. 3 2,965,280 48. 9,148,21 48. 7 8 1 Separated 9,498 3.5 190,198 3.1 608,059 3.2 8.4 1,626,89 8.5 0 Divorced 21,805 7.9 512,298 Widowed 14,925 5.4 331,653 5.4 985,204 5.2 34. 6,668,91 35. 4 0 0 Never married 31. 9 87,694 2,094,460 Canterbury Bankstown % New South Wales % Australia % Employment People who reported being in the labour force, aged 15 years and over Worked full-time Worked part-time Away from work Unemployed 56.8 59.2 57.7 29.8 29.7 30.4 85,599 44,841 7,755 12,420 2,134,521 1,071,151 174,654 225,546 6,623,065 3,491,503 569,276 787,452 5.1 4.8 5.0 8.2 6.3 6.9 Family composition Canterbury Bankstown (A) % New South Wales % Australia % 23,619 26.9 709,524 36.6 2,291,987 37.8 Couple family without children Couple family with children One parent family Other family 46,332 52.8 45.7 44.7 15,988 18.2 887,358 310,906 32,438 16.0 2,716,224 959,543 102,559 15.8 1,884 2.1 1.7 1.7 Household composition % New South Wales % Australia % Canterbury- Bankstown (A) 83,008 77.0 1,874,524 72.0 5,907,625 71.3 Family households Single (or lone) person households Group households 21,173 19.6 620,778 23.8 2,023,542 24.4 3,589 3.3 109,004 4.2 354,917 4.3 Age % New South Wales % Canterbury Bankstown 35 Australi a % Median age 38 38 0-4 years 24,976 7.2 465,135 6.2 1,464,77 9 6.3 5-9 years 24,182 7.0 478,184 6.4 1,502,64 6 6.4 10-14 years 21,883 6.3 443,009 5.9 6.0 1,397,18 3 1,421,59 5 15-19 years 21,865 6.3 448,425 6.0 6.1 20-24 years 24,494 7.1 489,673 6.5 1,566,79 3 6.7 25-29 years 26,488 7.6 527,161 7.0 7.1 30-34 years 26,567 7.7 540,360 7.2 1,664,60 2 1,703,84 7 1,561,67 9 7.3 35-39 years 23,995 6.9 499,724 6.7 6.7 40-44 years 22,859 6.6 503,169 6.7 1,583,25 7 6.8 45-49 years 22,021 6.4 492,440 6.6 1,581,45 5 6.8 50-54 years 21,786 6.3 485,546 6.5 1,523,55 1 6.5 55-59 years 20,110 5.8 469,726 6.3 1,454,33 2 6.2 60-64 years 16,828 4.9 420,044 5.6 1,299,39 7 5.6 65-69 years 14,087 4.1 384,470 5.1 1,188,99 9 5.1 10,810 3.1 292,556 217,308 3.9 887,716 3.8 2.9 652,657 2.8 8,881 2.6 70-74 years 75-79 years 80-84 years 85 years and over 6,986 2.0 155,806 2.1 460,549 2.0 2.2 486,842 2.1 7,487 2.2 167,506 Australi Canterbury- Bankstown % New South Wales % % Registered marital status People aged 15 years and over Married a 141,342 51. 3 2,965,280 48. 9,148,21 48. 7 8 1 Separated 9,498 3.5 190,198 3.1 608,059 3.2 8.4 1,626,89 8.5 0 Divorced 21,805 7.9 512,298 Widowed 14,925 5.4 331,653 5.4 985,204 5.2 34. 6,668,91 35. 4 0 0 Never married 31. 9 87,694 2,094,460 Canterbury Bankstown % New South Wales % Australia % Employment People who reported being in the labour force, aged 15 years and over Worked full-time Worked part-time Away from work Unemployed 56.8 59.2 57.7 29.8 29.7 30.4 85,599 44,841 7,755 12,420 2,134,521 1,071,151 174,654 225,546 6,623,065 3,491,503 569,276 787,452 5.1 4.8 5.0 8.2 6.3 6.9 Family composition Canterbury Bankstown (A) % New South Wales % Australia % 23,619 26.9 709,524 36.6 2,291,987 37.8 Couple family without children Couple family with children One parent family Other family 46,332 52.8 45.7 44.7 15,988 18.2 887,358 310,906 32,438 16.0 2,716,224 959,543 102,559 15.8 1,884 2.1 1.7 1.7 Household composition % New South Wales % Australia % Canterbury- Bankstown (A) 83,008 77.0 1,874,524 72.0 5,907,625 71.3 Family households Single (or lone) person households Group households 21,173 19.6 620,778 23.8 2,023,542 24.4 3,589 3.3 109,004 4.2 354,917 4.3

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