CHANCELLOR Gordon Brown was last night accused of misleading the region's house buyers as his plans to reduce stamp duty were attacked.

From tomorrow, the threshold on stamp duty for the sale of domestic and commercial properties in run-down areas is to be increased from £60,000 to £150,000.

The move is designed to help to revitalise depressed wards in the North-East, including Newcastle's Byker area and Middlesbrough's Pallister ward, which are deemed to be among some of the most disadvantaged areas in the country.

But estate agents say that, in reality, it will make little difference, because most homes and commercial properties in areas identified by the Treasury to benefit from the change are already valued below the £60,000 threshold and, consequently, would not be affected.

Conservatives have also criticised Labour's tax change, arguing that it is far less generous than it appears.

Michael Poole, secretary of the North-East branch of the National Association of Estate Agents, said: "It can be seen as a step in the right direction, but won't have a great effect on house buyers.

"The majority of areas that I can see in the North-East are areas where most properties are below the £60,000 threshold."

Mr Poole, who has a chain of five estate agents offices on Teesside, said the level of activity in the housing market was high, mainly fuelled by low interest rates.

"The market is in a very healthy position at the moment, with a high volume of transactions, and it was quite surprising to see this move by the Chancellor. But they are obviously trying to kick-start areas where there are problems," he said.

In his pre-Budget statement, the Chancellor said that to help areas of Britain with the slowest growth and highest unemployment rates, stamp duty would be abolished in 2,000 wards across the country.

He said that next year, he would legislate so that the £150,000 threshold would be raised significantly - or that the duty would be abolished altogether - for all commercial property sales within the qualifying areas.

A North-East Conservative Party spokesman said: "This is far less generous than it seems.

"Gordon Brown's promised reductions are only a fraction of what he has already taken away in stamp duty.

"Worse still, under Labour, households are also paying more tax due to the abolition of mortgage tax relief, and council tax has also risen by three times the rate of inflation.