Conversions of offices, retail shops, and agricultural
properties into homes jumped 40% from 982 to 1,355 in England in the second
quarter of 2015 compared to the same quarter a year ago, says EMW, a commercial
law firm. EMW explains that developers
are using conversions to increase the amount of property on the market to
address the current housing shortage, as growth in mortgage lending boosts the
already strong demand for homes. August saw an increase of £3.4bn in mortgage
lending, up from £8.8bn to £12.2bn, which was the biggest monthly increase
since spring 2008, before the full effects of the recession were felt. Read
more on the EMW website.
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