Open houses to free up property

On average properties, opened under the scheme, are sold at 5% above the asking price.

Paul Smith, chief executive officer of haart, said: “This system gives confidence to sellers to go to market knowing they will get the best price and gives them a fighting chance to find their next property with the best possible budget.

“Even more importantly we believe this will also tip the balance in favour of much needed supply.”

Hundreds of open houses are held each month to deal with the market’s high property demand.

Smith added: “There are upwards of 30 people per branch who have told us they would move if they could find a property to move to.

“So there is a continuing log-jam that needs to be shifted.”