20 Jul 2009

Sharp rise in investor confidence

1:25 pm on 20 July 2009

New Zealand investors have started to feel a little better about their money-making prospects, according to an ASB Bank survey.

The bank's March quarter investor confidence survey says a net 11% of respondents believe their investment returns will deteriorate in the coming year, a sharp improvement from the net 25% pessimism level in the previous quarter.

The survey says residential property investment returned to its top spot as the favoured method of investing, bolstered by low interest rates and stubbornly high property prices.

Support for term deposits rose one percentage point after recent consecutive falls.