Falling house prices and a tougher property market are prompting more buyers to consider “gazundering”, according to housing experts.
Gazundering, which refers to a buyer reducing their offer for a property just before exchange of contracts, is not new but is surging in popularity, according to those in the industry.
House prices fell for the first time this year in May, according to figures from building society Nationwide, partly because of rising interest rates triggered by the Israeli-US war with Iran.
Shorts
And with prices falling, buyers are often adjusting what they want to pay between a sale being agreed and completed, which can take several months.
