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Would this be the same outcome for residential land? Or nothing to do with zoning?

My Father has a 100 acre farm he wants to sell. 45 mins from Melb CBD. Currently land in the area is zoned as rural but most likely will be zoned residential in the next 5 years or so. Comparing recent sales in the area we notice that 5 - 10 acre lots of land sell for around $600k and 100+...