Which method involves a detailed itemization of labor and material costs for property estimation?

The quantity survey method is the correct answer because it is a detailed technique used in property estimation that breaks down all costs associated with labor and materials required for construction or renovation. This method provides a precise calculation by taking into account every element needed for a project, allowing appraisers to create a comprehensive estimate of the total costs involved based on specific project details.

This approach is crucial when developing an accurate cost estimate, especially for new constructions or significant renovations, as it ensures that both direct costs (like materials and labor) and indirect costs (such as overhead and profit margins) are considered. The thoroughness of the quantity survey method allows appraisers to ensure that their estimates reflect the true costs of property development accurately.

Other methods, like the cost approach, involve estimating value based on replacement costs minus depreciation, but they do not provide the same level of detail regarding individual costs. The income approach focuses on the revenue-generating potential of a property, while comparative market analysis compares similar properties to determine value based on market trends, rather than itemized costs.