How to value land price?

Been doing research in the market but just found it so hard to justify value to make up mind for subdividing or not. It seems as if land price is so random... Some tiny land 300sqm can sell for $900, $1000 per sqm, some larger block like 400sqm can sell for only $700 sqm.

I know there are factors such as hammer block, narrow frontage, which may affect the price tag but I am talking about those with the same features, ie 9, 10 m frontage, 300-400sqm in the same areas.

I called a couple agents and all they did was same as what I did, looking around the area and try to compare. It seems as if sellers can just make up their price tag and wait for buyers for land.... There's no standard... Is there?
 
Compare to OSR for land tax purposes and their explanations. In QLD you can even look it up by addresses...
They would have a general explanation how they value it, but you can ring them for more information if you require.
 
Hi

Hi,

Trying to put a price on land ( Not in a new estate) can be quiet challenging.
Three months ago i saw some land in a old area i called the agent and they said the vendor wanted 300K +.

What was weird was i bought a investment property with the same size of land just around the corner for 320K.

Any way the land sold for 380K makes no sense to me but now there are a couple of units being built.
 
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