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 were strong in April at 45.6k (seasonally adjusted and annualised).</li><li>We expect geopolitical uncertainties, rising fuel costs, inflation concerns, and increased mortgage rates to weigh on consents over the coming months.</li><li>The May QVCostBuilder update indicated that the average price of a number of materials increased over the month, including ready-mix concrete (+4.1%), insulation (+4.7%), and plasterboard (+1.9%).</li></ul>

Residential consents were strong in April at 45.6k (seasonally adjusted and annualised).We expect geopolitical uncertainties, rising fuel costs, inflation concerns, and increased mortgage rates to weigh on consents over the coming months.The May QVCostBuilder update indicated that the average price of a number of materials increased over the month, including ready-mix concrete (+4.1%), insulation (+4.7%), and plasterboard (+1.9%).

Building Sector NZ Consents—Yet To Falter