Ms Marie Hunt:

We are a multidisciplinary firm. We are buying and selling property. We are acting for clients. It is not our duty to tell the market what to build or where to build it. From a research or commentary point of view, we were simply pointing out that we were building too much and that we needed to rein it in because, if we were to go into the normal cycle, there was potential to exacerbate the situation by continuing to build at the same pace. It was not sustainable.