New Zealand investor report 2023
More than 1,000 Kiwis told us about their attitudes to investing, from their thoughts on sustainable investing, to their expectations for 2023.
- Younger generations are most likely to invest in shares, while Gen X are just as likely to invest in crypto. Term deposits are the top choice for Baby Boomers.
- 52% of Kiwis think 2023 will be a better year for investing than 2022.
- 87% think it’s important to invest in a socially responsible way.
Investment interests change across age groups
Overall, Kiwis say they are more likely to invest in shares than any other investment type — but that’s not true across all age groups.
We take a look at which investment type interests each generation the most.
Just over a quarter (26.8%) of Gen Z respondents (aged 18 to 26) say they were most likely to invest in shares.
At 19.3%, property was the second most common choice for Gen Z. While home ownership has become increasingly difficult for younger people in recent years, it has not dampened the aspirations of young people to get on the property ladder.
Term deposits interest Gen Z the least, with only 6.5% of respondents naming it their top investment choice.
Millennials (aged 27 to 42) are also most likely to invest in shares, with 24.2% making it their top choice.
Cryptocurrency is the second most popular investment option among this age group at 18.8%, while property is the most likely investment choice for 17.9% of respondents.
Term deposits are a little more popular with Millennials, with 9.6% saying it’s the investment type they would be most likely to invest in.
Interest in cryptocurrency peaks with Gen Xers (aged 43 – 58), with 21.3% of respondents naming it as the investment type they are most likely to invest in. Along with shares, this makes it the joint-top option for this age group.
Gen X are also much more likely to invest in a term deposit than younger generations — 18.3% selected it as the investment type they’re most likely to invest in.
Baby Boomers and beyond
Term deposits are king with those in the Baby Boomer generation and older (aged 59 and up). More than a third (35.2%) of respondents selected it as the investment type they were most likely to invest in, making it the most popular choice by a significant margin.
Shares (13.3%) and funds (7.6%) interest this age group much less than their younger counterparts, while cryptocurrency was the top choice for just 4.8% of respondents.
Kiwis more optimistic about 2023
2022 was a year of significant volatility and for Kiwi investors. House prices fell and the S&P 500 (commonly referred to as a barometer of the value of both US and global stock markets) dropped by 19.44%.
More than half (52%) of New Zealanders expect 2023 to be a better year for investing than 2022, while only 17.1% say they did not think it would be better.
Almost a third of respondents (30.1%) are unsure, saying they don’t know whether it will be a better year for investing than 2022.
A nation of socially responsible investors
When asked if they thought it was important to invest in a socially responsible way, a large majority of Kiwis (87.1%) said yes.
Socially responsible investing involves investing in companies and funds that have a positive social impact (such as those involved in clean energy, environmental sustainability, and social justice) and avoiding those that support damage causing products and services (such as gambling, alcohol, and fossil fuels.)
Respondents of all ages agree on the importance of socially responsible investing. Gen Z feels most strongly about the topic, with 90% saying it was important, but no age group dropped below 82%.
But some just want the best returns
However, 12.9% of respondents said they didn’t think it was important to invest in a socially responsible way.
When asked why they didn’t think it was important, 42.4% said they were just interested in getting the best return. Almost a third (32.6%) of respondents said they thought socially responsible investing didn’t make a difference, while 9.9% said socially responsible investing was just a fad.
This survey was conducted in November 2022 and comprised 1,020 New Zealand adults. All figures presented here have been rounded to one decimal point to improve reading comprehension.
Generational age groups in 2023 are defined as follows:
- Gen Z: 18 to 26
- Millennials: 27 to 42
- Gen X: 43 to 58
- Baby Boomers and beyond: 59 and up
To learn more or to request the full data set, please email us at [email protected].