Latest commercial property news from Lambert Smith Hampton

Call for Budget to boost housing

06/07/2015

George Osborne should provide further support for housing developers and hard-pressed first-time buyers when he delivers his Budget this week.

The Chancellor will announce his first Budget of the new government on Wednesday (July 8).
 
Marcus Plaw, planning director for LSH in Bristol and the South West, said he expects Mr Osborne to continue the Conservative’s initiative of providing assistance to buyers and developers to boost the housing market.
 
He said: “Last year’s Budget placed new emphasis on regeneration and delivering new homes for first-time buyers, and I expect that the Chancellor will continue with this approach with perhaps new funding initiatives being announced. 
 
“Meanwhile, property developers with permitted development rights to convert offices to housing will be conscious of the need for changes to be completed by the end of May next year under current legislation.
 
“Therefore, an announcement on a grace period for projects yet to be completed would bring relief to some developers.”
 
Permitted development rights are a national grant of planning permission allowing certain building works and changes of use to be carried out without having to make a formal planning application. 

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