[2] The suburb's post-European settlement character was initially agricultural with several large estates built around a small village centre.

Since the early 20th century, farms and mansions gave way to suburban development as the population of Melbourne rapidly grew.

In the late 1850s Andrew Murray, commercial editor and political writer for The Argus newspaper, bought land on the hill overlooking Canterbury Gardens.

The formally recognised traditional owners for the area in which Balwyn is located are the Wurundjeri People, who lived on the land for at least 14,000 years.

[7] Following the Foundation of Melbourne, Balwyn was part of Henry Elgar's Special Survey of 8 square miles (21 km2) in 1841, which was subdivided into small farms and grazing runs.

[9] It faced a second closure on 11 February 2011 but due to a campaign by local residents and the intervention of the Federal Member, Josh Frydenberg, the service was reopened.

The cinema's second major restoration in less than a decade saw the former office space converted into 6 extra screens, bringing the total number to 11.

Some of the initial development of the suburb occurred along the Whitehorse Road tramline, along which the Wade handbag and the Jarvis Walker fishing rod factories were once located.

Some older parts of Balwyn have service lanes to the rear of properties, an uncommon feature for a suburb outside of the inner city of Melbourne.