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Rental market picks up the slack as property sales decline While the property sales market declined notably during 2023 due to the spike in the interest rate, the rental market soared as many would-be buyers turned to rentals for more affordability and reduced risk. Rental market boom is a boost for rental investments Rentals are booming as many opt to rent in this economic climate. Rental rates have reached some of the highest levels in years. Millennials now comprise up to 40% of all property purchasers Millennials are increasingly heading to the property market, with this buyer demographic now comprising upwards of 30% to 42% of all property purchasers, especially in the main urban areas.

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