Purchasing to demolish is on the rise
Residential and commercial developers are increasingly turning to sites requiring building demolitions.
With land often taking more than a decade to move though the development pipeline, demolition sites are growing in popularity. (Image source: Shutterstock.com)
In a property market with tumbling property prices, collapsing buildings are rising in popularity.
From sites earmarked for building demolition in Sydney’s CBD to knock-down rebuilds and small redevelopments, demand for sites with existing buildings that can be cleared for more modern offices or homes is strong.
New data released by the ABS this week on demolitions suggests that residential knock-down rebuilds are around 25 per cent of the mark…
