It's certainly the way it works for us. Liverpool, Utd, Chelsea and Spurs all had their top targets sorted out long before the last day. Newcastle had 5 deals sorted.
Just last year Spurs failed to buy Moutinho on deadline day. We bought players before the deadline in the Summer and in January, sometimes players are available and sometimes they aren't. This whole 'WHY DIDNT THE CLUB BUY SOONER' is ridiculous, as if they've just waited on purpose for deadline day.