As confidence grows investors are shifting towards investments with greater potential returns but property remains the top pick, according to a new survey.

Investor confidence has climbed to the highest recorded level since the ASB Investor Confidence survey began 12 years ago, according to figures released today.

The survey for the fourth quarter in 2009 showed a net 16 point increase in investors expecting a better rate of return over the next year, climbing to a record net 30%.