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NotThamesWater-
This isn't always a problem but it can become a significant issue when other factors are in play, I agree.
Understanding the reason why it was done would be beneficial.
In the future, I suspect a lot of old single skin houses are going to have to have stuff applied to their exterior to provide insulation.
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Cement render is an issue on timber frame or clunch or something else that naturally moves around a bit because it doesn’t move so will always crack and allow moisture in and ruin the structure. On a masonry house like that one that doesn’t (shouldn’t!) move it’s fine if applied well and maintained so cracks are quickly fixed.
Howard
Hefty
Seems a bit extreme. Cracks in render can be ground out and patch repaired. If there was no evidence of the whole lot blowing and coming away and no evidence of it causing other issues like damp, I wouldn't let it scare me off. I would be mindful of it though and try to get a discount on the house price based on multiples of the cost of repair.
Show me one rendered wall in England that has no cracks etc...