Almost one in five property sales now experience ‘gazundering’

Almost a fifth of property sales now experience gazundering, according to figures from property firm Quick Move Now.

Gazundering, which is the attempted renegotiating of a lower property purchase price after a sale has been agreed, has become more common in recent years as the market contends with cautious buyers and difficult economic conditions.

According to Quick Move Now’s figures, 19% of property sales experience an attempted renegotiation after a sale has been agreed.

Outcome of gazundering

Outcome Percentage of gazunders Percentage of all property sales
Seller rejects attempted renegotiation and property sale falls through  

6%

 

1%

Seller rejects attempted renegotiation and sale successfully completes at originally agreed price  

28%

 

5%

Seller agrees to renegotiate sale price by the requested amount and sale successfully completes  

56%

 

11%

Seller rejects proposed new purchase price, but buyer and seller agree a smaller discount to previously agreed purchase price and sale completes  

11%

 

2%

 

Danny Luke, Quick Move Now’s managing director, explains: “Gazundering is a growing concern for sellers, especially in the current market.

“There are several reasons why we’re now seeing a higher likelihood of gazundering. In the current climate, buyers are more cautious. Higher interest rates and an end to lower Stamp Duty rates mean buying a property is more expensive. Buyers are therefore likely to intend to stay in their next property for longer. Buying property feels like a bigger investment and buyers are wary of making a costly mistake. We also need to consider the rising cost of building materials. People are less likely to be looking for a ‘doer-upper’ in the current market due to rising costs. If a property survey uncovers unexpected work needed, buyers are more likely to ask for a price reduction to cover the cost.

“Sellers may be shocked or disappointed to experience gazundering, but the reality is that under our current buying and selling process the buyer has very little information about a property’s condition at the point of making an offer. Few buyers will have enough knowledge about property to have a robust idea of any work that might need doing simply from a property viewing. They therefore rely on the expertise of surveyors to make them aware of any issues and the cost implications. If the survey highlights unexpected issues – which is the most common time for gazundering to occur – the buyer is likely to want or need to deduct at least some of that cost from the property purchase price.

“Under the current system, there is little that can be done to protect yourself from gazundering, other than making sure your property is well-maintained, and any potential issues are addressed before putting your property on the market. The rate of gazundering does, however, add fuel to the argument of moving closer towards the Scottish system and providing more information, including a property survey, at the point of marketing the property. It would then be easier to make offers legally binding earlier in the buying and selling process.

“England did attempt a move in that direction with the introduction of Home Information Packs (HIPs) in 2007, but unfortunately property surveys were not a compulsory part of HIPs, and the packs were abandoned in 2010 after industry professionals complained that they simply added more red tape to the property transaction process rather than adding speed and certainty. Is it time to introduce compulsory provision of a recent property survey report at the point of marketing? That would be quite a shift in how the current property selling process works but may well be something for the industry to consider if we want to reduce the frequency of gazundering.”

EAN Breaking News

Breaking News from the team at Estate Agent Networking. Have a new story to share with us? Then please get in contact today! When and where we can we will refer to third party websites with a 'live link back' where news was released first.

You May Also Enjoy

Rightmove logo
Breaking News

Rightmove’s Weekly Mortgage Tracker – 01/07/25

Average rates for 2-year and 5-year fixed-rate mortgages   Term Average rate Weekly change Yearly change 2-year fixed 4.57% -0.05% -0.83% 5-year fixed 4.55% -0.04% -0.45%   Lowest rates for 2-year and 5-year fixed-rate mortgages   Term Lowest rate Weekly change Yearly change 2-year fixed 3.69% -0.13% -0.98% 5-year fixed 3.87% -0.01% -0.36%   Average…
Read More
Breaking News

Housing Insight Report Covering May 2025

Sales On average, there were around 11.5 homes placed for sale per member branch in May 2025. Lettings The average void period reported by member agents increased to just over three weeks in May 2025. We are seeing an average of 37% of housing transactions taking longer than 17 weeks to complete. The timescales are…
Read More
Breaking News

Rental Market Hotspots Drive National Growth

New analysis from FCC Paragon reveals modest national growth in rental demand across England in Q2 2025, up by 1.2% to 29.4%. However, this overall increase masks significant regional variation, with several counties experiencing substantial quarterly surges that are driving the market forward. The research shows that rental demand across England strengthened in Q2, up 1.2%…
Read More
Breaking News

Nationwide House Price Index for June 2025 – Thoughts from the Industry

Nationwide House Price Index for June 2025 shows House prices fell by -0.8% between May and June of this year. On an annual basis, the average house price increased by 2.1% although this rate of growth had slowed from 3.5% the previous month. As a result, the average UK house price now sits at £271,619.…
Read More
Breaking News

Clarity still needed on key areas in Renters’ Rights Bill

Ahead of Report Stage of the Renters’ Rights Bill in the House of Lords later today, 1 July 2025, Propertymark is urging the UK Government and Peers to amendment Bill, so it is fit for purpose. There remain long-standing concerns about the capacity and capability of the Courts, with the time from claim to hearing…
Read More
Cozy Pet Cat Tree Grey
Breaking News

Pet deposits only option following UK Government U-turn on Renters’ Rights Bill

Ahead of Report Stage of the Renters’ Rights Bill in the House of Lords which kicks off later today, Tuesday 1 July 2025, Propertymark is urging Peers to support an amendment that would allow for an additional pet deposit now that the UK Government has tabled amendments to remove pet insurance requirements. Since the introduction…
Read More