July House Price Index 2026: Why the headlines don't tell the full story

July's headlines have focused on one figure: a 1.0% fall in average asking prices. At first glance, that sounds concerning. However, the reality is far more nuanced.

According to the latest Rightmove House Price Index, the average UK asking price of a newly listed home has fallen by 1.0% (£3,832) this month to £372,359. While asking prices typically soften during July, this year's reduction is considerably larger than the ten-year average seasonal drop of 0.2%.

Rather than signalling a market in decline, the figures reflect a summer market shaped by seasonal distractions, increased competition, and wider political and economic uncertainty.

A busy market with more competition

One of the biggest factors behind this month's figures is supply.

The number of homes available for sale is now close to a 12-year high for this time of year, giving buyers more choice than they have enjoyed in many years. As a result, sellers are having to compete harder to capture attention and demonstrate value.

At the same time, summer has brought its usual, and some new, distractions. School holidays naturally slow activity, but this year’s FIFA World Cup and successive heatwaves have also had a noticeable impact on buyer behaviour.

Rightmove's analysis found that buyer demand temporarily fell by 8% during May's heatwave, 6% during June's hot spell and by a further 4% during July's heatwave before recovering as conditions returned to normal.

These are short-term fluctuations rather than signs of weakening demand, but they highlight how external events can influence the timing of people's move.

Political change brings new questions

The appointment of a new Prime Minister has also created an element of uncertainty.

While political change can cause some buyers and sellers to pause before making major financial decisions, it also presents an opportunity for housing to move higher up the national agenda.

The property industry continues to call for reforms, including changes to Stamp Duty and measures to support the Government's ambition of delivering 1.5 million new homes.

One of the most significant recent announcements is the proposed introduction of mandatory digital 'sales packs' as part of wider home buying reforms. The aim is to provide buyers with key property information upfront, helping to create a more transparent and efficient moving process. It's an approach that closely mirrors the principles behind Redbrik's SecureMove™ service, which has been helping buyers and sellers move with greater confidence for several years.

For many buyers and sellers, confidence is closely linked to stability, and the coming months will provide a clearer picture of the new Government's priorities for the housing market.

Yorkshire continues to show resilience

While national averages often dominate the headlines, local markets continue to tell a different story.

Yorkshire & The Humber was one of only three regions to record monthly asking price growth, with prices increasing by 0.3% to an average of £259,730. Annual price growth also remained positive at 0.4%.

This reinforces an important point: property is local.

Across Sheffield, Chesterfield, Dronfield and the surrounding areas, we're continuing to see motivated buyers and realistic sellers agreeing successful sales every week. Local demand, pricing strategy and presentation remain far more influential than national averages alone.

What this means if you're selling

Today's market rewards preparation.

With buyers having more choice, launching your property in the best possible way has never been more important.

A realistic asking price from day one is key to generating early interest, rather than relying on a later price reduction to attract buyers. According to Rightmove, nearly three-quarters (74%) of homes that have sold and completed this year achieved a sale without any reduction in asking price.

Those first few weeks of marketing remain the most important, with the highest levels of buyer interest typically generated shortly after a property comes to market.

Professional photography, excellent presentation and accurate pricing all play a vital role in creating a strong first impression, helping to maximise viewings and secure the best possible offers.

What this means if you're buying

For buyers, today's market offers greater opportunity.

With more homes available, there's more time to compare properties, arrange viewings and make well-informed decisions. Gradually improving mortgage rates are also helping affordability, giving many buyers renewed confidence to enter the market.

However, the best homes continue to attract strong interest. Buyers who are financially prepared and ready to move remain in the strongest position when the right property becomes available.

The Redbrik view

This month's figures shouldn't be viewed as a sign of a struggling housing market.

Instead, they reflect a market adjusting to seasonal influences, increased choice and a changing political landscape.

Across Sheffield, Chesterfield, Dronfield and the surrounding areas, we're still seeing buyers who are ready to move and sellers who are achieving successful outcomes with the right pricing strategy.

Whether you're buying your first home, preparing to sell or simply want to understand what your property is worth in today's market, local knowledge has never been more valuable.

If you're considering your next move, our experienced team is here to provide honest, evidence-led advice tailored to the local market.

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