There's this article from "news.com.au" titled "How to be a property developer" which I would recommend everyone to have a look. It talks about location, finance, council approval and a few other stuffs.
The opening paragraph described the most important thing about property development:
"BECOMING a property developer can be as simple as buying a block of land and slapping a house on it or buying an existing house, knocking it down and building a new one.
However, becoming a successful property developer is a different story. It requires time, research, patience, and a willingness to take calculated risks. "
The article also mentioned 2 books which I will certainly have a look: "Australian Residential Property Development: A Step by Step Guide", and "An Intelligent Guide to Australian Property Development", both by West Australian author Ron Forlee.
Hope you also find the content of that article both interesting and helpful to your property development journey!