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Savills chief blasts Cambridge Econometrics report

Savills Private Finance managing director Mark Chiltern has slammed predictions of a house price collapse by Cambridge Econometrics as being "fundamentally flawed".

Countering claims by the economic forecasting group that house prices in the South East are destined to plummet, Chiltern blasted the research for only being based on the relativity of house prices to income.

He claims affordability can only be measured by the relationship between average mortgage repayments and household income — which are currently in a healthy state.

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