Investor confidence is picking up, even as the European debt crisis festers.
ASB's latest investor confidence index rose 7 points to a net 12% in the three months to the end of March.
That's a turnaround from late last year, when the earthquakes in Christchurch and the looming European debt crisis threatened to topple the domestic recovery.
But with Greece back in the headlines, ASB says there are questions about whether the new-found confidence will last.
For the first time in more than two years, rental property claimed the top spot as the preferred investment class, with a net 19% of people thinking it offered the best returns, up from 14% in the previous quarter.
Term deposits claimed second place, followed by managed investments and superannunation, while bank savings languished in last place.
ASB says low interest rates appear to be affecting investors' perceptions, with people moving away from the traditional lower-risk investment options for ones with the potential for higher returns.
