VIC Bayswater or Boronia for IP

Back to the drawing board after a year as prices have softened

This time inclined towards Bayswater or Boronia in Melbourne

Looking to develop 2 Townhouses on 600 SQM plot

Have identified a couple of plots in both the suburbs
Boronia is about 50k cheaper overall when compared oranges to oranges

However, the one in Bayswater is within 1km of the station whereas the ones in Boronia are much farther out

Realestate shows that the 3 BR townhouses in Boronia are selling at a premium as compared to Bayswater and land is cheaper

So is it a no brainier to go for Boronia only or is there a catch in the Realestate data

Cheers

 

Baysy for sure however I don't think the numbers stack up for 2 on a block 3 bedroom developments with break even point at around 650K for land which would be a reasonable buy in this market