I don't think the market is *crashing*, but it's certainly not as busy as it was in early spring. As Serendipity said, a lot of places were overvalued, and some sellers/agents/developers have really been taking the p!ss with their asking prices. And there are a lot of flats on the market right now, some have been on for quite a while... buyers are in a position to drive a hard bargain at the moment.