Gazanging

Gazanging describes a property vendor or seller pulling out of a sale before exchange, not by reason of getting a better offer (Gazumping), but because they no longer want to move.

The reasons given for Gazanging vary; the most common include: 

 

  • An expectation that the market will improve and that a better sale price can be achieved by waiting
  • A change in financial or personal circumstances
The word 'Gazanging' was coined by a property legal services company after their researched suggested that the phenomenon was becoming increasingly common.