The latest housing market figures have attracted plenty of attention, with the average asking price of a newly listed property falling by 1% during July 2026.

According to Rightmove, the average asking price of a home coming onto the market has dropped by £3,832, from £376,191 in June to £372,359 in July. Although asking prices often soften during the summer, the average July reduction over the past ten years has been just 0.2%, making this month’s fall considerably larger than usual.

However, sellers should not interpret this as meaning that every property has suddenly lost 1% of its value.

Asking prices are not the same as sold prices

It is important to understand that these figures relate to the prices being requested by new sellers, rather than the final prices being agreed between buyers and sellers.

The reduction suggests that people coming onto the market are becoming more realistic about the level of competition they face. It does not necessarily mean that property values across Keighley and the Aire and Worth Valleys have fallen by the same amount.

Every property market is local. Values can vary significantly between neighbouring towns, villages and even individual streets. Property type, condition, presentation, parking, outside space and the level of competing stock can all influence the price a buyer is prepared to pay.

Buyers currently have plenty of choice

The number of properties available for sale is approximately 1% lower than it was at this point last year, but the overall supply of homes remains close to a 12-year high for the time of year. This means buyers can often compare several similar properties before deciding which one to view or offer on.

When buyers have more choice, properties that appear overpriced can quickly be overlooked.

A buyer may like a home, but if another suitable property is available nearby with a more competitive price, stronger presentation or better marketing, that alternative is likely to receive the enquiry.

This is why launching at the right price is increasingly important. The first few weeks of marketing usually provide the greatest opportunity to attract serious interest, while the property is still fresh on the major portals.

Correct pricing can dramatically reduce selling times

One of the most revealing figures from Rightmove’s latest report concerns the difference between properties that are priced correctly from the beginning and those that later require a reduction.

Nearly three-quarters of properties that have successfully sold and completed during 2026 did so without reducing their original asking price. Properties that needed a reduction spent an average of 127 days on the market, compared with just 36 days for homes that sold without one.

This does not mean sellers should deliberately undervalue their homes. It means that the asking price should be supported by current market evidence and should compare favourably with the other properties buyers are seeing online.

Starting too high to “test the market” can sometimes have the opposite effect. The property may receive limited interest, become familiar to buyers and eventually need a reduction several months later. By that stage, the initial momentum may have been lost.

Summer distractions have affected activity

The property market is traditionally quieter during parts of the summer, as holidays, family commitments and warmer weather temporarily distract potential buyers.

This year, unusually hot weather and the World Cup have created further distractions. Rightmove recorded temporary reductions in buyer demand during each of the heatwaves in May, June and July.

These are likely to be short-term influences rather than permanent changes to the market. People still need to move because of work, growing families, downsizing, relationships, investment decisions and other changes in circumstances.

Nevertheless, sellers currently need to work harder to capture buyers’ attention.

Are buyers still purchasing property?

Yes. Although the number of sales agreed during the first half of 2026 was 6% lower than during the same period last year, activity remained broadly level with the first half of 2024. This indicates that transactions are still taking place when buyers see the right property at a price they consider reasonable.

Mortgage costs also remain an important consideration. Rightmove reports that the average two-year fixed mortgage rate has fallen from 5.08% last month to 4.92%, although it remains higher than the 4.25% recorded in February.

Buyers are therefore continuing to search, but many are calculating their budgets carefully and taking longer to make decisions.

What should sellers do now?

For anyone considering selling in Keighley, Haworth, Oakworth, Oxenhope, Cullingworth, Riddlesden, Silsden, Steeton or the surrounding areas, the current market should not be viewed negatively.

Properties are still selling, but success depends increasingly on four important factors:

An accurate and evidence-based asking price
High-quality photography and professional presentation
Strong exposure across the major property portals and social media
Proactive communication, viewing follow-up and regular performance reviews

The aim should be to generate meaningful interest from the beginning rather than simply achieving the highest possible advertised price.

Local advice matters more than national headlines

National property reports provide a useful overview, but they cannot accurately value an individual home.

A property’s true market position can only be assessed by looking at comparable local sales, competing listings, current buyer demand and the property’s individual condition and features.

At Davies Properties, we combine current market evidence with our detailed knowledge of Keighley and the surrounding towns and villages. We provide straightforward advice about price, presentation and the most effective marketing strategy for each individual property.

If you are thinking about moving or would like an honest assessment of your property’s current value, contact Davies Properties on 01535 872 018 to arrange a market appraisal.

Davies Properties – independent, local and committed to helping you make the right move.