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While housing sales rallied last year on the back of record low interest rates and a pandemic-fuelled search for bigger and better equipped properties, the rental market had no such luck.

In fact, by the fourth quarter, most cities were labouring under a heavy oversupply of houses, flats and clusters to let as droves of tenants bolted out of the market. Many used cheap mortgage finance to buy their first home, while those who suffered salary or job cuts were forced to move back in with family and friends...

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