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Australia’s parking spots among the world’s priciest

Friday, 18 July 2008

Parking fees in Australia’s state capitals are equal to or even more expensive than many of the world’s super-cities, a new global survey of parking costs has revealed.

According to Colliers International’s 2008 global CBD parking rates survey, the average $US1166 cost for a month of parking in the centre of London makes it the most expensive place to park anywhere in the world.

But Sydney is not far behind, coming in third on the list behind London’s west-end with an average monthly parking fee of $US775.

Perth and Brisbane are expensive in world terms – at fifth and sixth on the list, they rank ahead of the likes of New York and Tokyo for parking priciness, while Melbourne follows close behind in 11th place.

“Given Perth and Brisbane now have among the lowest vacancy rates in the world it is no surprise that monthly parking costs are among the most expensive,” Colliers International researcher Felice Spark says.

“Coupled with this, parking stock within CBDs across the country is increasingly tight. This dearth of parking and accompanying rise in cost, coupled with skyrocketing petrol prices – all in the face of a stagnating economy – exacerbates the everyday headaches faced by commuters nationwide,” she says.

Source: Colliers International