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First they are playing the sales pitch. Personally I don't think you will be paying more. These developers have holding costs so have to keep moving stock, and I don't think the demand at $240k will be there. 4bdrm rental's in Truganina average $300-310pw. You shouldn't be be paying much more...

Ruddprime There is absolutely no shortage of land, there is squillions of hectares of the stuff to the west of Melbourne. Truganina blocks were as low as $130k pre FHB Boost. Negative equity is on the horizon for those paying $200k for a piece of dirt in Truganina.