Buy-to-let mortgage lending is one factor behind increasing house prices over the last 12 years, but it is not the only one, one report has argued.

An in-depth study by the National Housing and Planning Advice Unit (NHPAU) has claimed that the inflationary pressures created by the sector since 1996 have been balanced by the social benefits.

And while many people are blaming landlords and second-home owners for snapping up properties and inflating house prices, the NHPAU argues that mortgage rates and spending habits are just as much to blame.

The report said: "Buy-to-let mortgage lending would appear to have increased house prices since its introduction in 1996 quarter three.

"But it is important to note the impact is small in relation to the effect of household growth, the size of housing stock, mortgage and interest rates and changes in disposable income."

However, the report did acknowledge that buy-to-let has had "some impact" on prices and affordability.