A record 800 ‘historic’ houses being demolished every week in Australia

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April 9, 2016

A record 800 ‘historic’ houses being demolished every week in Australia

 A record 800 heritage and “character” houses are falling under demolition hammers each week, destroying miles of unique streetscapes and slicing billions off their value.

The number of demolitions is almost one-third higher than previous estimates because it takes into account more suburbs in every capital, according to Phillip Almeida, director of Acquisitions Performance Advisory, which monitors national property markets.

Original houses remaining in a streetscape transformed by a “McMansion” (a house or apartment considered to be ostentatious or lacking in architectural integrity) can lose between 10 and 25 per cent of their value from the loss of street appeal, say property specialists.

This article received coverage in both the AFR and The Age/Sydney Morning Herald’s Domain lift-out.