Poor millionaires
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Increased regulation, dual pricing and the lack of first-time buyers may be having a negative effect on your business but before you start feeling too sorry for yourself spare a thought for property millionaires who, because of the credit crunch, have seen their precious possessions tumble in value.
According to Zoopla.co.uk the number of properties worth £1m in the UK has shrunk by some 35% in the past two years. Big shots in the North-East have been hit hardest over the period, with a 83% reduction in the number of home owners who can claim to be property millionaires. Wales has also suffered badly, losing 56% of its property millionaires in two years.
Mole is thinking of setting up some sort of charitable trust to support the distressed owners.
