Private selling also creates a vicious circle: with stock so low, more people will attempt to find a buyer off-market. This, in turn, keeps stock low.
There are already enough barriers to buying. House prices are rising by 10pc a year, far outpacing wage growth, while rampant inflation eats away at savings.
Exorbitant stamp duty encourages people to stretch their finances to the limit to avoid having to move again within a few years. Those who do this will really feel the sting of imminent interest rate rises.
I would prefer private sellers to list their homes on the public market. But I’ve been trying without luck to buy a family home since 2019. If you can’t beat ’em, join ’em.