Financial Times writes, that there was a small drop in house prices in June. Then they speculate, whether it is the beginning of the end of the UK property boom of the last 10 years.
I personally doubt, that there will be a massive drop in prices (10-20% and more), unless there is some kind of major financial disaster either locally or globally. Otherwise we will probably experience a very slow and annoying market - no one will be ready to sell because of the fear to cause oversupply and to lose the profits they have on paper. Buyers on the other hand will struggle to find anything suitable.