NSW Camden, NSW area and Land value

I recently signed a contract of sale for purchase of a property in Camden, NSW. It is 3 bedroom old house on big block of land. The purchase price is less than the Land value as per Value General, NSW. And it is 68% of the land value.

I believe that purchase price is always more than land value as Purchase price is for Land (Unimproved value) + all improvements.

Is there something wrong with this area or this specific property. Does anyone sense something which I am missing?

Thanks

 

Hard to tell without any specifics. How does it compare to similar properties in the area? Land value general wouldn’t be the best measure of actual land value..