New research by property purchasing specialist House Buyer Bureau highlights the growing anxieties of homebuyers and sellers as they navigate the housing market during a period of economic uncertainty. The study analyzed 25 common property search terms to gauge changes in priorities and concerns since the beginning of 2023.

The term “Property chain” experienced the most significant growth in interest score, rising by 51.4%. “House quick sale” and “Down valuation” also saw significant increases. Increased interest in “Property chain” searches may indicate concerns or experiences of collapsing chains, while rising interest in quick selling suggests sellers’ eagerness to sell their homes before prices fall further. The growth of “Down valuation” implies sellers are experiencing value reductions during the survey process.

The rising interest in “Gazundering,” the practice of a buyer reducing their offer at the last minute, reveals a power shift from sellers to buyers. This shift contrasts with the housing market boom, when “Gazumping,” trumping a rival buyer with a higher offer, was more common. The search interest score for “Gazumping” has seen the most significant decrease since the beginning of the year.

Chris Hodgkinson, Managing Director of House Buyer Bureau, notes that sellers are anxious about falling home values and the power shift towards buyers in a cooling market. The cost of living and a lack of buyer demand could cause prices to decrease further, prompting sellers to look for quicker ways to sell and secure a price in the current market.