Welcome to the May edition of our newsletter. This month brings excellent progress at the Stockman Living development, continued strong buyer activity in Auckland and Pukekohe, and encouraging signs from the wider market.
With around 20 families now living in the community, and plenty happening both on-site and behind the scenes, momentum continues to build—and we’re excited to keep you informed on what’s ahead.
Project Update
Construction continues to move forward on schedule across both active stages:
Stage 1A and 1B:
With more than 120 homes built or under construction, the development is full of energy, with prospective buyers visiting and negotiations well underway.
Stage 2A:
All drainage, roading, and utilities are now fully complete. The asphalt is down, and streetlights and landscaping are in place. We’re now preparing for Practical Completion (PC), which is imminent.
Titles for Stage 2A are expected in September 2025, please proceed to engage your solicitors and begin preparing for settlement in advance.
Stage 2B:
Drainage infrastructure is complete, and road formation is well underway, with retaining walls and footpaths progressing steadily.
Titles for Stage 2B are currently projected for December 2025.
Market Update – Auckland & Pukekohe in Focus
The broader Auckland property market is showing signs of stabilisation, with outer suburbs and lifestyle hubs like Pukekohe gaining real traction. Buyer confidence is returning as interest rates hold steady and many feel the market has reached its floor.
In Pukekohe, demand remains strong among first-home buyers and families seeking space and value, particularly in well-planned, future-focused developments like Stockman Living. With new builds offering modern design, low maintenance, and compliance with current building codes, interest continues to grow steadily.
OCR Announcement
The Reserve Bank has cut the Official Cash Rate (OCR) by 25 basis points to 3.25% marking the lowest rate since October 2022. This is the third OCR decision of 2025 and the first since the release of the 2025 Budget. A rate cut is a welcome development for both current buyers and prospective purchasers, supporting renewed momentum in the property market as we head into the second half of the year.
The cut had been widely anticipated, with BNZ and Westpac lowering mortgage rates in response. Westpac’s fixed rates now sit as low as 4.95%, while ANZ and ASB have also made reductions across floating, flexible, and special home loan products. These changes are expected to ease pressure on borrowers and stimulate household spending.
Prime Minister Christopher Luxon remains hopeful the latest cut in the OCR isn’t the last, as the Reserve Bank now forecasts the rate could drop further to 2.9% by December. Finance Minister Nicola Willis noted that the OCR has fallen 2.25% over the past nine months, with nearly half of all mortgages due to be refixed after June. She highlighted the benefits for homeowners, first-home buyers, and local businesses, as increased household affordability helps drive local economic recovery.
Thank you for being part of the Stockman Living community. We’re proud of the progress to date and look forward to delivering a vibrant, high-quality neighbourhood. If you have any questions or need support with next steps, our team is here to help.
For any inquiries or assistance, please feel free to contact us at info@mylandpartners.com.
Warm regards,
The Myland Partners Team
