According to new research by the National Housing and Planning Advice Unit buy-to-let investment has had only a 7% effect on house prices in the last five years, throwing into doubt the assumption that the availability of buy-to-let mortgages has been an important factor in first-time buyer misery. The major causes of rising house prices and unaffordability have, the report suggests, been rising interest rates and higher numbers of households. The research follows similar finding by Capital Economics. Furthermore, both CE and NHPAU (NUPOW!!) believe that buy-to-let has had a positive effect on the quality and quantity of available rented accommodation. You might not like it, but that's what they're saying. More here.

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