Savills said volumes of properties changing hands in the five million pound-plus market were down 23 percent on the year, while the value of deals has declined 11 percent, compared to a 106 percent surge in 2006.
Douglas & Gordon, one of London's largest independent estate agents, has witnessed a 35 percent drop in buyers on last year, but from an abnormally high peak in early 2007.
Despite a general consensus for a correction rather than a crash, some agents were more bearish than others.
