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>2025 was a year of two halves with a solid pickup in consents (both number and floor area) in the latter part of the year.</li><li>Residential floor area consented (12-month rolling +10% year on year) typically leads Fletcher Building’s (FBU) materials and distributions volumes by six to nine months.</li><li>FBU, Vulcan Steel (VSL), and Steel &amp; Tube (STU) will report 1H26 results in February.</li></ul>

2025 was a year of two halves with a solid pickup in consents (both number and floor area) in the latter part of the year.Residential floor area consented (12-month rolling +10% year on year) typically leads Fletcher Building’s (FBU) materials and distributions volumes by six to nine months.FBU, Vulcan Steel (VSL), and Steel &amp; Tube (STU) will report 1H26 results in February.

Building Sector NZ Consents—Solid End to 2025