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three of a kind Man of property

Astragal's ex-comrade in arms John Welsh is abandoning architecture - or at least the editorship of the riba Journal. Instead he is to edit Property Week, where the concept of good architecture is almost entirely related to the gross-to-net ratio. Astragal offers him best wishes, and a reminder that in property the definition of a yield is 'to give in'; an equated yield is 'I call it 7 per cent, you call it 9 per cent - let's call it 8 per cent', and that even in these days of computer analysis, the 'wet finger in the wind' method of valuation still holds sway in most property quarters.

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