Government to make it easier to convert commercial property
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The government is expected to announce measures that make it easier for commercial buildings to be converted into residential property in this week’s Budget.
In Wednesday’s Budget chancellor George Osborne is expected to scrap the requirement for planning approval to convert a commercial property to residential use.
The government believes this could create 250,000 new homes, as empty office space is converted into homes for first-time buyers.
It is estimated this could save up to £140m in costs over the next 10 years.
Last year only 129,000 new homes were built in England.
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