Landlords are the housing industry's 'white knights'

The private rented sector has been the housing industry's "white knight" during the recent economic downturn, according to the National Approved Letting Scheme.

A desperate shortage of local authority property and the struggle faced by housing associations to fill the gap has left it up to British landlords, a spokesperson for the accreditation scheme claims.

He said: "It is difficult to get onto the [housing] ladder. It is very arduous for young people starting off.

"Without the private rental sector, without buy-to-let investments, and without private sector leasing schemes [from] local authorities, there would be a very, very serious housing problem."

The spokesperson also notes that there has been a change in the attitude of Britons to home buying, which has boosted the industry's prospects.

This is in line with recent claims made by the Association of Residential Letting Agents, which suggested earlier this week that the housing market is experiencing a trend of reluctant tenants.