Gordon Brown's efforts to kick-start the housing market are unlikely to have much effect, economists agreed.

Although the number of hits on Rightmove, the property website, rose 10 per cent yesterday, economists thought the move to raise the stamp duty threshold to £175,000 would be unlikely to increase the number of house purchases. They pointed to the relatively small cost of the tax relative to prices, the severe tightening in credit conditions and widespread expectations that UK house values have much further to fall.