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<p><b>New page</b></p><div>The number of homes sold for more than �2m - now subject to a higher stamp duty rate - fell at the end of last year, new figures show.<br />
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There were 103 �2m-plus homes sold in December in England and Wales - an 18% drop from the same month a year earlier, the Land Registry said.<br />
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Of these, 80 were sold in London, where prices have been rising the fastest.<br />
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The sales came before Chancellor George Osborne introduced a new 7% stamp duty rate in Wednesday's Budget.<br />
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There are various rates of stamp duty land tax - paid by the buyer of a property - already in place, depending on the cost of the home.<br />
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The chancellor said that those who bought the most expensive homes should contribute more. This will mean the buyer of a home at a cost of more than �2m must pay at least �140,000 in stamp duty.<br />
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The Treasury expects the measure to raise �150m in the next financial year, rising to �300m by 2016-17.<br />
First-time buyers<br />
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The Land Registry provides the latest accurate data on the sales of homes at certain price bands.<br />
Continue reading the main story<br />
Current stamp duty thresholds<br />
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* 1%: Properties of �125,000 to �250,000, but first-time buyers are exempt until 24 March<br />
* 3%: �250,000 to �500,000<br />
* 4%: More than �500,000<br />
* 5%: More than �1m, residential property only<br />
* 7%: More than �2m, residential property only<br />
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In December, the biggest proportion of homes were sold for between �100,000 and �150,000, with a total of 14,385 sold.<br />
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Any first-time buyers who bought homes at this price would have been exempt from stamp duty at the time.<br />
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However, from Saturday, all buyers of homes sold for more than �125,000 will have to pay stamp duty because this exemption is coming to an end after two years. Mr Osborne said it had been "ineffective" in increasing first-time buyer numbers.<br />
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In the Budget, the chancellor also announced that the level of stamp duty on residential properties over �2m which were bought via a company would increase to 15% with immediate effect.<br />
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In addition, overseas companies that already own UK residential property worth more than �2m will be subject to capital gains tax from April 2013.<br />
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Overall, the Land Registry said house prices in England and Wales rose by 0.1% in February compared with the previous month.<br />
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However, prices were down 0.6% compared with February 2010. The average home cost �161,588.</div>MarcellaKayser560