There's been a resurgence of investors keen to invest in the Auckland property market.
The ASB's investor confidence survey shows rental properties have leapt ahead of term deposits in Auckland to become the most popular investment class.
In Auckland 19% of respondents thought rental property offered the best rate of return, followed by term deposits chosen by 17% of respondents and KiwiSaver third at 12%.
However nationally, 19% of respondents believed term deposits offered the best rate of return, followed by rental properties (15%) and KiwiSaver and bank savings accounts (12%).
ASB's head of private banking and wealth management, Jonathan Beale, says it shows confidence is returning to the Auckland housing market.
He says the survey indicates a high level of public support for KiwiSaver.
The survey also showed confidence dropped significantly by 9 points following February's devastating earthquake in Christchurch.
ASB says the analysis was based on 720 online interviews with adults aged 18 and over from throughout New Zealand, and that interviewing in Canterbury ceased temporarily after the earthquake.
