Market 'cooling'

PUBLISHED : Friday, 24 February, 1995, 12:00am
UPDATED : Friday, 24 February, 1995, 12:00am

FINANCIAL Secretary Sir Hamish Macleod yesterday downplayed suggestions the property market was in dire trouble, saying it was still 'alive and kicking'.

He said government efforts to cool the market had worked and the mortgage ceiling made sense.

He was positive about the results of this week's auction despite the withdrawal of a commercial site in Sha Tin and two industrial-office sites in Sha Tin and Kowloon Bay.

'From my perspective, as far as residential properties are concerned, it was fine,' he said.

'You may remember that one of the criticisms of the property market last year was that it was dominated by the large players.' He was referring to the results of Wednesday's sale in which smaller buyers were successful.