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Thanks all for the comments. I have stood on the block for a while and can't say the noise bothered me, but maybe that's because I've lived in noisy houses before. I think the train might be more annoying than the road. What would you say is a reasonable spend on a house? Say the block is...

Does anyone have any thoughts on this block in Norman Park? Is it too close to railway line? Good price? What are the extra items to budget for when building close to railway and in DCP? http://www.realestate.com.au/property-residential+land-qld-norman+park-200846087