Stamp duty changes welcomed by property market but throughs up doubts about the definition of first

[Nicholas Wallwork]

Stamp duty changes for UK property buyers announced yesterday by the government have been*generally welcomed but branded as a tax on London and the south east where many buyers will be*worse off.

The changes mean that from midnight last night stamp duty for first time buyers on purchases up*to £250,000 is scrapped for two years. But it is increasing to 5% for residential properties over*a million pounds from April 2011, to its highest level ever.

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