Asking prices fell 1% in July. Is my house worth less?

What did Rightmove actually report in July?

On 20 July 2026 Rightmove published its monthly House Price Index. The average asking price on a newly listed home fell by 3,832 pounds to 372,359 pounds, a drop of 1% in a single month.

The typical July change is a fall of 0.2%. This July fell five times further than normal, the largest July drop in a decade. The index measures homes coming to market, so it is a live read on what sellers are willing to advertise at this month.

Does a fall in asking prices mean my house is worth less?

Not on its own. An asking price is the figure a seller and their agent choose to advertise at. A sale price is the figure a buyer actually paid and a lender actually accepted.

Rightmove measures the first, on homes listed this month. HM Land Registry measures the second, on completed sales, and reports it months later. The two are different numbers about different things, and they can move in opposite directions at the same time.

They are doing exactly that now. Zoopla's House Price Index published on 30 June 2026 put UK house prices 1.4% higher over the year at an average of 271,900 pounds, with northern regions up 3.5% and London down 0.2% for a ninth month running.

A falling asking price index tells you what sellers are willing to advertise this month. It does not tell you what your home is worth.

Why are asking prices falling when sale prices are still up?

• Choice. The number of homes for sale is close to a 12-year high for the time of year, so a buyer who does not like your price has plenty of other doors to knock on.
• Cost. The average two-year fixed mortgage rate is 4.92%, against 4.25% in February 2026. Higher monthly payments put a hard ceiling on what a buyer can bid, whatever they think your home is worth.
• Distraction. Rightmove recorded buyer demand 8% below normal during May's heatwave, 6% in June and 4% in July, across a World Cup summer.
• Sellers pricing against each other. New sellers are coming to market under the homes already listed, which pulls the asking price average down before a single sale happens.

Colleen Babcock of Rightmove said the larger than normal fall reflects a market where buyers "have plenty of choice and sellers are having to work harder" to attract them.

What does this change if I am selling this summer?

The number that decides your summer is not the index. It is whether your first asking price is close enough to reality that buyers book viewings in the opening fortnight.

The gap between 36 days and 127 days is roughly three extra months of mortgage payments, council tax and utilities on a home you are trying to leave. It is also three months of a chain waiting on you, or of your own onward purchase slipping away.

That gap is created in week one, by the figure on the board. It is not created by the index.

What should I do before I set my asking price?

1. Price against completed sales, not against what the neighbours are asking. Sold prices from HM Land Registry are the figures a lender's valuer works from.
2. Get more than one agent's view of the number, in writing, with the comparable sales that support it. One valuation is a data point. Three is a picture.
3. Ask each agent two separate questions: what would you advertise at, and what do you think it will sell at. The gap between those two answers is the interesting part of the conversation.
4. Work out what a softer price actually leaves you with, after fees, conveyancing and your mortgage payoff, before you decide any figure is unacceptable.
5. If you are buying next, cost your onward move at 4.92% rather than at last year's rate. Your budget moved when the market did.

None of that requires you to drop your price. It requires you to know the difference between the price you want and the price the evidence supports, before a buyer tells you.

Where does ValuQ fit?

ValuQ gives UK homeowners free, side-by-side property valuations from competing local estate agents. You enter your property details once, multiple local agents send their valuation, their fees and their strategy, and you compare every response on one screen before you speak to anyone. It is free for homeowners, always, and your name and number stay with you until you decide to share them.