The chancellor's decision to increase stamp duty on properties worth more than £250,000 by 0.5% has wiped £1.5bn off the value of UK property, reckons Mathew Ryall at Jones Lang LaSalle. Taking the average time between selling properties into account, Ryall says the long run returns to property have fallen by nearly 1% a year as a result of the chancellor's increases in stamp duty in the past three years. {{PROPERTY }}