Flats are dropping much more than houses, because there's a new Leasehold bill that hasn't gone through, service charges have gone up a lot, and people are worried about cladding and resale. I'd still buy a flat myself, but I've never minded some of the flat problems like leasehold that put other people off.
Flats are plunging, houses are dropping 10% in our area, they are being put on too high, then being dropped quite quickly depending on how much the person wants and needs to move.
The market is sluggish as so many people can't sell!
Plus a lot of three bed houses have come on as landlords are getting out of the market, and despite what everyone was saying, large companies don't tend to want to snap up this type of property. Ideally they would go to ordinary families, but mortgage rates have gone higher and that's putting a ceiling on what they can borrow- so landlords don't want them and families squeezed out can't quite climb back on the property ladder.
The government was warned about the Renter's Act but here we are. It's not just that, the whole global economy is struggling due to all the wars, Trump.