Looking to save money on your city carparking? Rent one!
New data analysis by Ray White shows pay carparking across Adelaide CBD has experienced the greatest price increase of any Australian capital over the past 12 months.
It costs, on average, $27.55 to park in the city on a casual rate. This is an increase of $5.15, or 11.3 per cent on this time last year.
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That means a full-time worker parking in the city every weekday is forking out an average of $551 per month.
It makes SA SA’s fifth least affordable capital city, with just Canberra, Hobart and Darwin cheaper, at $21.64, $18.83 and $11.10 respectively.
If you thought almost $30 a day was rough, spare a thought for Brisbane workers who currently fork out, on average, $80.84 for parking.
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As high as this is, it is actually cheaper than both the $82.61 they were paying last year, and the $85.05 Sydney residents were paying.
They are now paying $77 a day.
Adelaide’s average early bird discount of 37.38 per cent, bringing it down to $17.25, seems like a decent saving, but compared to the 62.90 per cent discount Melbourne residents are getting – bringing their $64.43 daily rate down to $23.90 – it hardly seems generous.
Vanessa Rader Head of Research Ray White Group Picture: Supplied
Ray White head of research Vanessa Rader the direct correlation between office market health and parking rates provides a valuable economic indicator of CBD vibrancy, with discounting strategies offering additional insights into competitive pressures facing operators across Australian cities.
“These pressures have mounted into decision making surrounding the sale of many of these assets,” she said.
“Typically purpose-built parking facilities in CBD locations are tightly held and are not often subdivided from the basement of larger office buildings.”
Analysing available carparks on Spacer.com.au – an online platform for storage units, garages and car spaces – the Sunday Mail found parking opportunities in the CBD for as little as $230 per month for an outdoor, unreserved parking space on Grote St.
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In fact, at $520 a month for a garage space on York St, even the state’s most expensive rental worked out to be cheaper than paying Adelaide’s daily rate.
“Currently there are a number of parking facilities on the market across Australia, suggesting owners may be capitalising on counter-cyclical investment appetite or reconsidering the long-term prospects of these traditionally stable assets,” Ms Rader said.
Highlighting Ms Rader’s point, a 1206-space car park at 215-225 North Terrace, Adelaide is currently on the market.
215-225 North Terrace, Adelaide, which is currently for sale.
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