The budget may make it easier to convert commercial property into residential, says a report.
The BBC reports that measures to make it easier to convert commercial property in England into private dwellings are to be announced by the government in the Budget. The move is likely to make the change of use not subject to planning permission, but covered by building regulations, as per a suggestion by chair of CABE, Paul Finch.
It comes as just 129,000 new homes were built in England last year, the lowest peacetime figure since 1923, while at the same time between 7-9% of commercial properties lie vacant. The BBC reports the proposal will be announced in next Wednesday’s budget.
See the BBC coverage.