Source: ASB Bank
ASB Investor Confidence Survey Q2 2026
New Zealand investors are keeping a close eye on domestic politics, with a record 40% saying they are ‘very concerned’ about how local political uncertainty will impact their investments, according to the latest ASB Investor Confidence Survey.
A further 46% said they were ‘concerned’, taking total concern to 86%. Global geopolitical and economic concern levels are also at a record high with 57% of investors ‘very concerned’.
However, rising concern has not translated into more investment changes, with no increase in the proportion of people making or considering changes as a result.
ASB Senior Economist Chris Tennent-Brown says the findings show that while political uncertainty is weighing on sentiment, it’s a positive sign that investors are not immediately acting on it.
“Politics can create uncertainty and it is understandable that New Zealanders are paying close attention, especially with a general election coming up. But concern on its own is not a reason to step away from a well-considered investment plan, particularly as many investments perform as expected, with the US share market a positive example of all-time highs despite the uncertain geopolitical backdrop.”
“Markets can move quickly in response to news, and trying to time those movements can mean missing periods of recovery and growth. For most investors, the more useful focus is whether their portfolio remains diversified, aligned with their goals and appropriate for their timeframe.”
When it comes to where Kiwi see the best return on investment, rental property has plummeted this quarter, with only 10% of Kiwi saying they see it as providing the best return.
“This makes sense, the property market has been flat for a while and this is clearly impacting investor sentiment for rental property ownership, and the housing market in general.”
“Consequently, Kiwi whose main investment was a rental property were significantly more likely to be very concerned about local political outlook, likely seeing potential for change in the rental market affected by local policy,” says Chris.
Overall nett investor confidence declined five percentage points over the quarter to 1%, now at the same level recorded in June 2025, when the Trump tariff policy first kicked in.
“The survey tells us people are concerned, but they are not necessarily acting on that concern. That is a sensible distinction. Staying invested through periods of uncertainty can help investors participate in market gains, while a long-term plan provides a stronger foundation than reacting to any political cycle.”
Note:
The ASB Investor Confidence and KiwiSaver survey measures New Zealanders’ behaviour and attitudes towards investing. The following analysis is based on 784 online interviews in Q2’26 with adults aged 18 years and older throughout New Zealand from the Dynata panel. A sample of this size has a maximum margin of error of 3.5% at the 95% confidence level. Fieldwork occurred between 1st April – 28th June 2026. Note that fieldwork took place after the Iran-Israel-US conflict and resulting fuel crisis began on 28th February.