Investor confidence has lifted to 11% according to ASB’s latest Investor Confidence Survey for the fourth quarter to December 31 2025, a slight increase from 10% in Q3. The lower North Island reported the most significant rise, jumping from 3% in Q3 to 10% in Q4, up 7%.
The survey reveals a shift in New Zealanders’ perceptions of where the strongest investment returns lie. For the first time in years, owning your own home or having a property investment are no longer seen as providing the best returns on balance among those surveyed.
Instead, KiwiSaver and managed funds have emerged as the top two performers in the eyes of investors, reflecting growing confidence in diversified and professionally managed investment options.
ASB senior economist Chris Tennent-Brown explains, “While property has long been considered the gold standard for investment, Kiwi are increasingly recognising the value and convenience of managed funds and the long-term benefits of KiwiSaver, favouring the flexibility and potential for growth.
The under 30s have been leading the way in this shift in sentiment for some time, however this quarter’s findings show a change in sentiment among most other age groups.
“The generational divide is apparent with the over 60s holding steady in their belief that your own home is still the best investment, which is unsurprising. Gen Z on the other hand believe the best returns currently lie in investing in shares of publicly listed companies, signalling the rise of the DIY investor as an accessible path to growing your portfolio,” says Chris.
“Despite this shift, New Zealanders continue to be interested in buying homes to live in, as indicated in the increase in confidence in our Housing Confidence survey. It just means perception of property as an investment is evolving.”
The survey underscores the importance of financial education and the evolving needs of investors as they seek robust and reliable options in a dynamic economic environment.
Notes:
ASB has tracked investor confidence in the NZ market since 1997. This analysis is based on 672 online interviews in Q4 2025 with adults aged 18 years and older throughout New Zealand. A sample of this size has a maximum margin of error of 3.8% at the 95% confidence level. Fieldwork occurred between 1st October – 16th December 2025.
