Well, am I glad I found this place! You've already answered a few questions I had and I haven't even asked any yet. My partner and I just bought a piece of dirt in University Hill (in Bundoora, opposite RMIT) in Melbourne. The estate is being developed by MAB and sold by Sunland. We were attracted to the place for two reasons: firstly, its not being done by a house developer, so everyone will bring their own home design to their lot, which allows for far greater diversity and second, because we sit right on Plenty Gorge, which is the most beautiful wetland/river gorge national park.
At the moment, our lot is a 648m2 piece of dirt. We have no roads, services, nothing. Sunland reckon they'll have services to our stage by July, but I think they're dreaming. The contract gives them 18 months, they reckon 6 months, so if I were a betting man, I'd say an even 12 months, so we'd only start building in December 2008.
In the meantime, we're looking for house designs we like, investigating builders and doing all the things we should've done before buying the land itself!