Investor confidence is inching upward, but housing is no longer the clear favourite

ASB's latest survey shows net investor confidence is sitting at 10-percent for the third quarter of this year - up from one-percent last quarter.

However, perceptions that homes get the best investment returns have dropped to their lowest level since 2015.

ASB Senior Economist Chris Tennent-Brown says housing has always been the favourite returning investment - but this has dropped in recent years.

He says both the housing and rental markets are flat - and the election's coming up where there could be some changes on the tax on property investment.