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You're in no pickle at all. Just keep it steady and sensible and live within your means. Good to be positive but don't get too aggressive! All the best with the finance. ;)

Well as long as the bit of pickle is not too deep you should be ok. Sounds like a good strategy to get ahead. How is your feasibility stacking up? What is the total project cost vs expected rental once you move back home? Interest rates are great at the moment. What rate did you get and...

CBA didn't for me a few years back. Maybe times have changed and they've come to senses. :) Valuation post development was much better.

Normally they will value it as building contract price + price you paid for land. Once the house is built it will value based on surrounding sales. Sounds like you will gain some equity but there are always extras like landscaping, etc. Are you borrowing money for construction only?