I have dry, sensitive flaky skin, and I've suffered with it for years, buying ever more expensive, and heavy, moisturisers to try and deal with the problem. This, I've since found, is a shortcut to adult acne, which is never the greatest look.
I have solved the problem somewhat though, mainly by changing my cleansing routine, and using a lighter moisturiser. The routine is as follows:
Cleanser of choice - oil, bar, cream, balm, foam (one note, if your skin is sensitive all the time, and is dry as a matter of course, then please, please please, do not use a foaming cleanser under any circumstances, the vast majority - even the ones for sensitive skin - will contain Sodium Laurel Sulphate, and this is horrendous for causing irritation. The others tend to be too harsh too) or whichever type works best for you.
Muslin cloth - available from the baby care department of Boots, or at a pinch, a soft towelling face cloth will do.
Hot water - as warm as your hand can stand. Too hot, and you'll break capillaries in your face.
Moisturiser of choice
Apply cleanser to lightly dampened face, and massage face lightly with your fingertips. Have your muslin cloth soaking in the hot water while this is happening. The Eve Lom website has instructions on how to do this and give yourself a lymphatic massage at the same time, but it's not necessary for every day cleansing.
Once your face is thoroughly covered, wring out your cloth, shake it out and press it to your entire face. Hold it over your face for a few seconds, breathing in the steam, then repeat. Repeat once more (three times in total).
Once more, rinse your cloth in the hot water. Wring out, and start removing what remains of the cleanser from your face using small circular motions, until all traces of cleanser are removed from your face. Rinse your cloth in slightly cooler water this time, apply to the face as before and hold for a few seconds. Pat your face dry gently.
Apply your mosituriser as normal. You should notice straightaway that your face feels a lot smoother and softer, and, if used regularly - ie, every time you cleanse - you'll never have flaky skin again!