Downsizers Target High Street and Coleraine Court in Thomastown for Next Chapter

Larry and Sue Jenson never thought they’d leave their four-bedroom family home near the Darebin Creek trail, but last month they packed their lives into boxes and moved into a modern townhouse two blocks from High Street. They’re hardly alone: Thomastown’s central districts are fast emerging as ground zero for locals seeking to downsize while staying close to the community they know.

The surge in downsizing isn’t just a local lifestyle trend. Planners at the Whittlesea City Council have pinpointed central Thomastown as a key “transition zone” for the city’s ageing population. With the number of Thomastown residents aged 60 and over rising each year, where retirees decide to settle is shaping the fabric of local property and retail markets.

Central Hubs Attract the Downsizers

It’s the walkability and transport links that are making the difference. Central Thomastown, particularly streets close to the train station and shopping strip such as High Street, Main Street, and the corner of Coleraine Court, have seen a bump in listings specifically marketed toward mature buyers. Local real estate agency Novak Properties confirmed a marked rise in interest for two-bedroom villas within a five-minute walk of the Lalor Plaza Medical Centre and the Thomastown Library.

Developments like the over-55s-only apartments at Station Grove and new townhouses along Edgars Road are catering to those looking to shed maintenance headaches without sacrificing access to pharmacies, supermarkets, and their bowling club. The Thomastown Community Hub on Barry Road has also reported higher attendance at its seniors’ programs, a sign of the growing number of new older residents who want to stay active locally.

Price Points and the Data Shift

Numbers back up the anecdotal buzz. Property data from CoreLogic shows the median sale price for townhouses in postcodes 3074 and 3075 climbed from $530,000 in May 2025 to $558,000 by early June 2026. Downsizer-friendly options-those with a single-level layout and two bedrooms-typically list in the $470,000 to $550,000 range on High Street, Coleraine Court, and Station Grove. Agents are reporting days-on-market for these properties has dropped from 41 days last year to just 28 last month, reflecting buyer competition for the limited stock suited to downsizers.

Between January and June this year, Whittlesea City Council registered 51 planning applications in Thomastown for units and duplex infill, with over half located within one kilometre of the train station. Local builder Wilton Developments confirmed it has completed three such projects on Coleraine Court alone since February.

Looking ahead, agents and community groups expect demand to remain strong as baby boomers keep unlocking equity from larger homes around Mount View Road and St. Clare Avenue. Downsizers are advised to move decisively when suitable homes hit the market: low-maintenance, centrally located properties remain in short supply. Watching upcoming completions on Station Grove and checking the council’s published planning register will help buyers spot new opportunities before demand overtakes supply again.

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.