Sparks at Bank
Where research and analysis meet the economic issues that matter
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Sparks at Bank features insights and analysis from Bank of Canada economists and researchers. It takes its name from the intersection of Sparks and Bank streets in Ottawa where the Bank’s head office is located.
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Why asking rents have surged in Canada since 2021
September 29, 2026
Renting has become significantly more expensive in Canada in recent years. Asking rents—those advertised for vacant units—rose sharply as demand grew faster than supply. As tenants move and sign new leases, changes in asking rents gradually spread to the average rents captured in the consumer price index.
Disclaimer
Bank of Canada staff produce research and analysis to support the work of the Bank and to advance knowledge in the fields of economics and finance. This research is non-partisan and evidence based. While Sparks at Bank articles discuss issues relevant to the economy and central bank policy, they are produced independently from the Bank’s Governing Council. The views expressed in each article are solely those of the authors and may differ from official Bank of Canada views.