property

Thomastown's Oakwood Suburb Transforms With New Rail and Road Infrastructure

Fresh rail and road works position the Oakwood precinct for accelerated property demand by late 2027.

By Thomastown Property Desk · Published 8 July 2026

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This article was written by AI from the linked sources and was not reviewed by a journalist before publishing. Melbourne Weather News is part of The Daily Network and follows our reasonable editorial care.

The Oakwood precinct in Thomastown will gain direct access to the expanded Northern Rail Link when the new interchange opens at the end of 2027.

City planners approved the $148 million project in March after traffic counts on Elm Street exceeded 22,000 vehicles daily. The upgrade coincides with steady population inflows that have lifted Thomastown's overall dwelling approvals by 19 percent since 2024.

New links reshape daily commutes

Residents near the Thomastown Community Hub on Elm Street will reach the central business district in under 25 minutes once the rail link operates. The same corridor also feeds the Greenway Park redevelopment, where the council has rezoned 14 hectares for mixed-use buildings. Both sites sit inside the designated growth corridor that runs from the old railway yards to the new bypass interchange.

Median house prices in Oakwood reached $462,000 in the June quarter, according to Thomastown Real Estate Board data released last week. That figure marks a 14 percent rise from the same period in 2025 and outpaces the city-wide average of 8 percent. Rental yields for three-bedroom homes average 5.8 percent, supported by demand from workers at the nearby logistics park.

Buyers weigh timing and entry points

Local agents report that blocks within 800 metres of the future interchange are attracting the strongest inquiries. Settlement data from the first half of 2026 shows 47 transactions in that radius, up from 31 in the corresponding period last year. Prospective buyers should inspect properties along Maple Grove and check flood overlays on the council's online portal before lodging offers. Early movers who secure finance now can lock in current interest rates ahead of the expected rate review scheduled for September.

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.

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