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 edged above the top end of the recent 30–35k range in August 2025 for the third time in the last two years.</li><li>Regionally, Auckland appears to have reached an inflection point, with 12-month rolling year-on-year consents up +5%, while the rest of the country ex-Auckland is down -2% on the prior year.</li><li>The next updates from the listed companies are Fletcher Building’s (FBU) 1Q26 volumes in early-to-mid October and a trading update at its AGM on 22 October, as well as trading updates at Steel &amp; Tube’s (STU) AGM on 22 October, and Vulcan Steel’s (VSL) AGM on 31 October.</li></ul>

Residential consents edged above the top end of the recent 30–35k range in August 2025 for the third time in the last two years.Regionally, Auckland appears to have reached an inflection point, with 12-month rolling year-on-year consents up +5%, while the rest of the country ex-Auckland is down -2% on the prior year.The next updates from the listed companies are Fletcher Building’s (FBU) 1Q26 volumes in early-to-mid October and a trading update at its AGM on 22 October, as well as trading updates at Steel &amp; Tube’s (STU) AGM on 22 October, and Vulcan Steel’s (VSL) AGM on 31 October.

Building Sector - NZ Consents—Smokos Nearly Over