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

Macroeconomics

<ul><li>Residential consents continue to track sideways. The September headline run-rate of 34.7k (seasonally adjusted and annualised) remains within the 30k to 35k range that consents have settled in over the last year.</li><li>The interest rate cutting cycle is starting to improve industry sentiment, with construction sector business confidence (ANZ Business Outlook) reaching 10-year highs, and residential construction intentions the highest since March 2021.</li><li>However, the elevated level of housing stock available for sale, as well as slowing net migration, could temper the conversion of improved sentiment into actual construction activity. </li></ul>

Residential consents continue to track sideways. The September headline run-rate of 34.7k (seasonally adjusted and annualised) remains within the 30k to 35k range that consents have settled in over the last year.The interest rate cutting cycle is starting to improve industry sentiment, with construction sector business confidence (ANZ Business Outlook) reaching 10-year highs, and residential construction intentions the highest since March 2021.However, the elevated level of housing stock available for sale, as well as slowing net migration, could temper the conversion of improved sentiment into actual construction activity. 

Building Sector - NZ Consents — Going Sideways