Biggest shake up in planning regulations since First World War.
The chancellor George Osborne has announced that developers will no longer need planning permission to convert commercial property to residential, in a move that could see up to 250,000 new flats or homes across the UK.

The changes will also include a number of measures to streamline planning applications to remove bureaucracy from the system and speed it up. This will include a 12 month guarantee for processing all applications and appeals, with a fast track for major infrastructure projects.

Jeremy Stein, CEO of Drawing and Planning Ltd, London's leading property planning consultancy, said: "At present the local Councils in London are struggling to cope with the volume of existing planning applications. With the looming cuts to planning departments this new 12 month guarantee on applications and appeals only heaps the pressure on further".

The announcement comes as good news to developers and landlords,...