How to develop real estate profitably (in 1855)

An article on land speculation - from the Geelong Advertiser

LAND SPECULATION. - Geelong Advertiser and Intelligencer (Vic. : 1851 - 1856) - 19 Apr 1855

 

Wow. Wasn't readable in parts but I get the gist.

Ps. apparently a lot of the land near where I am at Epping was landbanked as soon as it was subdivided (back in around 1890). But people left their parcels of land empty for quite a while in many cases, and they only built later. What worked over 100 years ago can still be applicable today. Some people even bought 3 lots of land or so and just kept them all.
The money is in the land....

 

Shows that Henry Kaye types have been around for years.

A fascinating example is the Chartwell Estate in nowhere land between Tarneit and Rockbank subdivided in 1957.

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A local history compiled by the council is in the Word document below (search 'Chartwell 1957 estate boundary' if it doesn't appear).

https://www.google.com.au/url?sa=t&rct=j&q=&esrc=s&source=web&cd=2&cad=rja&uact=8&ved=0ahUKEwjr8uq2qtDMAhVEJqYKHXp0BU8QFggiMAE&url=http://www.melton.vic.gov.au/files/bd3cf08d-cc4e-49ba-ac06-a28b00fb3282/volume_2_-_environmental_history_adopted_may2007_-_no_pics.doc&usg=AFQjCNEhZwgrkzkyp1RJY7EIkh1q9Vxc9A&sig2=_R56J88Idl2WIi8SgCjxjQ&bvm=bv.121421273,d.dGY

Streets were laid out. They were given prestigious names like Mayfair, Downing, Oxford, etc to woo English migrants to which land was sold sight unseen. It was not on any main roads and remains isolated today (though development is edging closer). A few houses were built but there's no sewage. It did not get approved by council as the blocks were too small for septic tanks - owners were not allowed to build unless they bought adjoining blocks. Again note parallels with HK's failed development in Truganina.

A similar area (I'm not sure if the work of a property shonk) is the industrial part of Sunshine North at the end of Bunnett St. There's power lines and streets are all laid out on a map, but like Detroit there's just piles of rubbish.
Google Maps