It's a Goldilocks market a year after property cooling measures

IT HAS been a year since the government imposed fresh curbs to cool the hot property market, so it is perhaps a good time to take stock of the private residential property market.

All the more so in the light of fresh data that shows that the private residential price index rose 1.5 per cent in the second quarter, steeper than the preliminary estimate of 1.3 per cent.

The quick turnaround has surprised market watchers. After the government introduced total debt servicing ratio framework into the home financing equation in June 2013, private home prices went into a tailspin, chalking up 15 straight quarters of decline from Q4 2013 before rising 0.7 per cent in Q3 2017.