Why Mulberry Lane Remains Thomastown’s Blue-Chip Investment-With Room to Grow

Mulberry Lane, once considered the reserve of established families and legacy investors, has quietly held its position as Thomastown’s blue-chip address-yet buyers are still finding unexpected value amid the tree-lined streets and solid brick homes.

The persistence of Mulberry Lane as a high-demand enclave comes as Thomastown’s broader property market surges, with first-home buyers and upgraders jostling for diminishing stock across the suburb. The resilience of this pocket is no coincidence. As prices in neighbouring Arden Park and Riverbank Heights push well beyond the median, Mulberry Lane has begun to attract a new type of buyer: those seeking an enduring investment at a price point still within reach.

Old Foundations, New Opportunities

Set between the manicured fairways of Thomastown Golf Club and the retail hub of Belleview Plaza, Mulberry Lane boasts an enviable position with genuine local amenity. The Mulberry Lane Parade, a monthly fixture at the nearby Thomastown Community Arts Centre, draws residents from across the district, underscoring the area’s reputation for both culture and connectivity.

With schools like St. Helena’s Primary and the proximity to the Northside Transport Interchange, the location’s appeal to families and commuters has only strengthened. According to local agents, several homes on Birchwood Avenue-often snapped up privately, before even hitting online listings-have sold in under ten days this winter.

Price Evidence and a Shifting Market

Despite its upmarket reputation, recent sales suggest Mulberry Lane still holds value. Data from Thomastown Property Network shows the median house price in Mulberry Lane stood at $917,000 as of June 2026. That’s below the $1 million threshold being crossed in neighbouring pockets. By comparison, three-bedroom brick homes on adjacent Treeview Crescent fetched as much as $1.12 million last quarter.

Townhouse developments near Parkview Reserve have also offered entry-level options, with sales as low as $675,000 for compact, two-bedroom layouts. Local property records reveal that days on market for the precinct are averaging just 15-significantly shorter than the Thomastown-wide figure of 24 days last month.

Low stock is tipped to persist, as few long-term owners show willingness to sell. However, with the expansion of bus routes through Walnut Drive and impending updates to Belleview Plaza, new buyers may find more reasons to target Mulberry Lane sooner than later. Agents advise would-be investors to monitor off-market listings, attend community events, and engage early with local networks such as the Thomastown Homeowners Association for the best chance at securing a foothold before competition tightens further.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.