Mate a block of land in any given estate can vary by hundreds of thousands of dollars depending on size, block shape, street frontage, location within the estate etc etc. It's all irrelevant now but the article just said that x property in x suburb was bought for x amount. No way you would know if it's the correct price just by that info alone.
In Sydney....... maybe
Up there? Plus, local people would probably know the developments in question and would know what the blocks were selling for
A block overlooking the swamp wouldn't differ much from the one overlooking the cane toad highway up there.
When I bought my first place - a house in a development, all the houses were listed in a range
3 bedroom houses $425,000 to $450,000 and 4 bedroom houses $525,000 to $550,000
If someone bought one for $350,000, we'd have all wondered who they were shagging