New Zealand Professional Investment Services Firm

Forsyth Barr

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

New Zealand Professional Investment Services Firm, Forsyth Barr

Thematic (Sector/Industry)

New zealand Capital goods / Thematic (Sector/Industry)

<ul><li>Residential consents remained stable to start 2026, with a fifth month at c.40k (seasonally adjusted and annualised).</li><li>FBU is less constructive and reiterated its expectation for volumes to lift from 2027, which likely reflects soft near-term commercial (non-residential consent value flat on a 12-month rolling basis) and infrastructure activity, which make up the other half of FBU’s NZ demand.</li><li>Non-residential again showed signs of improvement, with value consented up +4.5% on the prior year.</li></ul>

Residential consents remained stable to start 2026, with a fifth month at c.40k (seasonally adjusted and annualised).FBU is less constructive and reiterated its expectation for volumes to lift from 2027, which likely reflects soft near-term commercial (non-residential consent value flat on a 12-month rolling basis) and infrastructure activity, which make up the other half of FBU’s NZ demand.Non-residential again showed signs of improvement, with value consented up +4.5% on the prior year.

Building Sector NZ Consents—Building On The Foundation