The below 725sqm block of land in Scoresby fetched $605k at auction last week. The only difference was the latest sale had plans + permits for 2 townhouses. Over the last 12 months the area seems to be performing very well. https://m.realestate.com.au/property-residential land-vic-scoresby-201227621 What caught my eye was the previous sold price; $340,000 in Mar 2014! That's 78% growth in the space of 16 months. Roughly what sort of value do plans and permits represent? (bank vals and also market value). or are there to many variables to consider? Can anyone confirm if the data on this particular sale is correct? Onthehouse also notes the same figures. If it is correct, im extremely envious to say the least!