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Investing Insights with Tony Alexander: Investors are not deterred

Investing Insights

Every three months, Tony surveys more than 30,000 Kiwis to find out what they’re investing in, how they’re investing, what they're selling, and what’s been on their minds. He then looks at how these preferences are changing over time and why.

  • Tony Alexander

    Independent economist

Below, we look at some of the key trends from Tony’s February survey. 

Gradual momentum 

Investor optimism continues to rise. Around 78% of respondents are planning to contribute more to their investments compared to 76% in the last quarter of 2023, and 73% a year ago. 

Buying shares is by far the most popular investment among survey respondents, followed by managed funds and exchange-traded funds (ETFs), then residential property and savings accounts. And buying shares through an app—rather than an advisor—has hit a record high.

A bar graph shows there has been a small uptick in survey respondents planning to add to their investments this year.

Investors leave housing to first-home buyers

Even with the coming change to restore interest expense deductibility for property investors, there has been a further decline in people intending to buy residential property as an asset. This is the lowest it’s been since our survey began (originally at monthly intervals) in January 2022.  

There also appears to be a slight recovery in buying commercial property. Though Tony warns we’ve yet to see if this is short-lived. 

A horizontal bar graph shows that survey respondents are most likely to consider selling residential property, followed by shares.

Crypto is back in the mix

There’s been a lift in intentions to buy crypto assets, likely due to Bitcoin’s recent rally in price.

A bar graph shows there has been an uptick in survey respondents' intentions to invest in crypto assets. Intention sits at the highest level it's been in the last year and a half.

What makes up a portfolio?

To get a better understanding of how investors are structuring their portfolios, Tony asked survey respondents to list their main investments. Here are some findings:

  • two-thirds of respondents include residential property in their portfolio, and 39% said it makes up more than half of their portfolio

  • 20% hold commercial property

  • 98% hold shares, with about a quarter saying shares make up more than half of their portfolio, and three quarters saying shares make up between 10–50% of their portfolio

  •  24% hold investments such as government bonds and finance company debentures

  • just over 40% said they have under 10% of their portfolio in the form of cash in the bank

  • around 40% have term deposits, and just 3% said term deposits make up more than half of their portfolio

  • cryptocurrencies were not widely held, with 89% having no exposure and 9% said crypto made up to 10% of their assets base

  • investments held in small amounts included farming, forestry, precious metals, art and antiques. 

A horizontal bar graph shows survey respondents are most likely to hold shares, followed by residential property, then bank cash deposits.

Download the report

For a deeper dive, download the full Investing Insights report.

A hand holds Tony's February report on a pink background.

Investing Insights is conducted in partnership with Tony Alexander. All analysis is Tony’s and not influenced by Sharesies.

Ok, now for the legal bit

Investing involves risk. You aren’t guaranteed to make money, and you might lose the money you start with. We don’t provide personalised advice or recommendations. Any information we provide is general only and current at the time written. You should consider seeking independent legal, financial, taxation or other advice when considering whether an investment is appropriate for your objectives, financial situation or needs.

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