Housing Market Update: Why Accurate Pricing Matters More Than Ever

The latest housing market figures from Rightmove show that the average asking price of newly listed properties has fallen by 0.6% over the past four weeks.

Although this may sound like a relatively small adjustment, it represents the largest fall in asking prices during June since 2012. Historically, June has been a stronger month for the property market, with asking prices rising by an average of 0.1% over the past decade.

So, what is causing the change, and what does it mean for homeowners considering selling?

A Clear North–South Divide

The figures reveal a noticeable difference between regional property markets.

Asking prices have fallen across southern England and Wales, while more affordable northern regions are generally proving more resilient. This is encouraging for areas such as Keighley and the wider Aire and Worth Valleys, where property prices remain comparatively accessible to first-time buyers, families and investors.

Affordability continues to play a significant role in buyer decision-making. With buyers increasingly conscious of mortgage repayments and the wider cost of living, areas offering better value for money are likely to remain attractive.

However, this does not mean that every property will sell easily or achieve an ambitious asking price. Buyers are carrying out more research, comparing more properties and taking longer to make decisions.

Buyers Have More Choice

One of the biggest influences on the current market is the number of properties available for sale.

The supply of homes is reportedly 6% higher than in 2024 and 12% higher than in 2023. With more properties competing for attention, buyers can afford to be increasingly selective.

At the same time, buyer demand during May 2026 was around 10% lower than it had been a year earlier.

This combination of greater supply and reduced demand creates a more competitive environment for sellers. Properties that are presented well, marketed effectively and priced correctly are still attracting interest. Those that enter the market at an unrealistic figure may struggle to generate viewings and risk becoming stale.

Asking Price Versus Market Value

An asking price should be carefully considered rather than treated as an aspirational starting point.

It can be tempting to begin at a higher figure to “test the market”, but this approach can work against a seller. The first few weeks of marketing are often when a property receives the most attention, and launching at the wrong price can mean missing the strongest opportunity to attract motivated buyers.

Today’s buyers have instant access to comparable properties, previous sale prices and detailed market information. When a home appears overpriced, many will simply move on to another listing rather than arrange a viewing or submit a lower offer.

A realistic valuation does not mean underselling a property. It means positioning it correctly to generate competition, encourage viewings and achieve the best possible result within a reasonable timeframe.

Other Factors Affecting the Market

The housing market does not operate in isolation.

Mortgage rates, household finances and wider economic uncertainty continue to influence confidence. Seasonal distractions may also have an effect, with the warm weather and this summer’s World Cup potentially shifting people’s attention away from moving home temporarily.

Despite these challenges, people still need to move. Families outgrow their homes, landlords review their investments, first-time buyers enter the market and homeowners relocate for work or personal reasons.

The market has not stopped, but it has become more price-sensitive.

What Does This Mean for Local Sellers?

For anyone considering selling a property in Keighley, Haworth, Oakworth, Oxenhope, Riddlesden, Steeon & Silsden or the surrounding areas, the key is to understand the local market rather than relying solely on national headlines.

Northern regions may currently be holding up better than some parts of the country, but each neighbourhood, property type and price bracket performs differently.

A well-presented home in a desirable location can still attract strong interest. However, sellers need an honest assessment of:

Recent comparable sales in the immediate area
Similar properties currently competing for buyers
The condition and presentation of the property
Current buyer demand within the relevant price bracket
How long comparable homes are taking to sell

Local Knowledge Makes the Difference

As an independent estate agency, we closely monitor what is happening across our local market. We speak directly with buyers, attend viewings where required and receive first-hand feedback about what people are looking for and how much they are prepared to pay.

Online estimates and national statistics can provide a useful starting point, but they cannot fully account for a property’s condition, position, outlook, plot size, improvements or individual characteristics.

The current market rewards sensible pricing, strong presentation and proactive marketing. Getting these elements right from the outset can make the difference between achieving a successful sale and spending months waiting for interest.

If you are considering selling and would like an honest, evidence-based assessment of your property’s current market value, contact Davies Properties on 01535 872018.