(Bloomberg) -- The Conservative Party plans to loosen rules on homebuilding as part of a drive to ease shortages in Britain's residential property market, according to The Sun.
The package of measures, which will be unveiled at the ruling party's annual conference next week, will allow most homeowners to add up to two additional floors to their properties without needing to obtain planning permission, the newspaper said, citing a senior government source.
Ministers also plan to make it easier for developers to build on some rural areas of so-called greenbelt land surrounding towns and cities, while firms will no longer need government approval to knock down commercial property and replace it with new homes, according to the report.
The additional support comes as the U.K. housing market continues to be buffeted by the turmoil surrounding Brexit, with the sector's usual autumn bounce so far failing to materialize. Asking prices were down for the first time in nine years in September, according property search firm Rightmove.
To contact the reporter on this story: Mark Burton in London at mburton51@bloomberg.net
To contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, James Amott
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