Gazundering: the trend shaking up the property market
More buyers are reducing their offers at the last minute to force cheaper sales
 
One in three house sellers are falling victim to a frustrating property market trend: "gazundering".
In the past six months, 31% of vendors have been gazundered, which is when a buyer reduces their accepted offer just before contracts are signed and exchanged, according to research by House Buyer Bureau.
In some dialects, a "gazunder" was a potty that "goes under" the bed, explained The Guardian, but it "has a different meaning now, and this one is far worse".
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
 
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
It is "the opposite of gazumping", said FT Adviser, "which becomes more frequent when the market favours the seller".
Gazundering has seen a 97% increase in internet search interest since the start of the year, said estate agent comparison website GetAgent.co.uk, noting that cooling house prices mean the power is now "very much in the hands of the nation's homebuyers".
Why does gazundering happen?
Gazumping, where someone puts in a higher bid for a property that is already under offer to another buyer, "used to be quite common" and is in some ways a "sign of a successful economy", said The Guardian.
Now it is a "buyer's market" with less competition, and so sellers have little choice when their purchaser drastically reduces their offer at the last minute.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
House prices unexpectedly increased in October, but overall home values have been "hurt" in 2023, said Sky News business reporter James Sillars. This is due to the "impact of the continuing cost of living crisis and surge in borrowing costs", imposed by the Bank of England to tackle inflation. According to RightMove, the average two-year fixed term, 95% loan-to-value mortgage rate is now 6.22%. Rates are expected to remain high until summer 2024.
House prices hit a 150-year-high last year, with the average house costing around nine times the average salary. This looks set to change. Zoopla predicts that, in 2024, house prices will fall by 2%, partly driven by high mortgage rates, but also because the number of homes for sale is at a five-year high.
Securing a buyer is therefore "a task in itself", Chris Hodgkinson, managing director of House Buyer Bureau, told Metro. As a gazundered seller, "there's really nothing you can do other than to accept the lower offer, or pull out of the sale completely".
How can a seller avoid being gazundered?
HomeOwners Alliance recommends setting a fair price to begin with, and being transparent about any issues so that offers are realistic. And where possible, favour chain-free buyers who can move quickly.
Although estate agents and solicitors prefer the buyer and seller not to contact each other, building a relationship is a good way to ensure against underhand dealings.
Sellers can also keep their houses on the market and continue to accept viewings until contracts are signed, advises Property Investments UK.
Ultimately, "there is something seriously wrong with the way that we buy and sell houses", wrote The Sunday Times money editor Johanna Noble last December. Legislation is needed, he said. Valuing a property amounts to "pretty much guesswork", and having an offer accepted "is no guarantee" of a sale. "It’s like the Wild West out there."
- 
 The 8 best dark comedies of the 21st century The 8 best dark comedies of the 21st centuryFrom Santa Claus to suicide terrorism, these movies skewered big, taboo subjects 
- 
 France’s ‘red hands’ trial highlights alleged Russian disruption operations France’s ‘red hands’ trial highlights alleged Russian disruption operationsUNDER THE RADAR Attacks on religious and cultural institutions around France have authorities worried about Moscow’s effort to sow chaos in one of Europe’s political centers 
- 
 Crossword: October 30, 2025 Crossword: October 30, 2025The Week's daily crossword 
- 
 6 well-crafted log homes 6 well-crafted log homesFeature Featuring a floor-to-ceiling rock fireplace in Montana and a Tulikivi stove in New York 
- 
 6 sporty homes with tennis courts 6 sporty homes with tennis courtsFeature Featuring a clay tennis court in New York and a viewing deck in California 
- 
 6 eye-catching rounded homes 6 eye-catching rounded homesFeature Featuring a central spiral staircase in Michigan and a Balinese-style estate with ocean views in Hawaii 
- 
 Back to the future: Kids embrace ‘old school’ devices Back to the future: Kids embrace ‘old school’ devicesUnder the radar From MP3s to sewing machines 
- 
 6 incredible homes under $1 million 6 incredible homes under $1 millionFeature Featuring a home in the National Historic Landmark District of Virginia and a renovated mid-century modern house in Washington 
- 
 ‘Friendflation’: the increasing cost of maintaining a social life ‘Friendflation’: the increasing cost of maintaining a social lifeUnder the Radar Cost-of-living squeeze has left some feeling priced out of social events and struggling to keep up friendships 
- 
 6 rustic homes on ranches 6 rustic homes on ranchesFeature Featuring copper kitchen counters in Colorado and a 380-acre property in California 
- 
 6 sought-after homes in San Francisco 6 sought-after homes in San FranciscoFeature Featuring a 1900 painted lady Victorian North of the Panhandle and views of the Golden Gate Bridge in Russian Hill