THE National Association of Estate Agents has vowed to keep lobbying the government for a fairer stamp duty system. Hugh Dunsmore-Hardy, chief executive of the NAEA, said: "With house prices rising rapidly, Stamp Duty is becoming an increasing burden for more and more homebuyers. The Government's latest changes give relief in only a few areas of the country."

The NAEA's proposed system involves raising the threshold at which stamp duty kicks in for all property transactions up to £100,000 from £60,000, as well as a significant change to banding levels.

A new system of graduated changes would be applied so that those buying properties within the £100,000 to £250,000 range would pay 1.5 per cent on the value above the £100,000 exemption threshold, which would, for example, represent a 25 per cent saving for those buying a property for £200,000.