Australia’s parking costs among the highest in the world

William Jolly By on September 20, 2019
 
Car park costs 2019

Photo by Omer Rana on Unsplash

Australia is the most expensive country in the world for daily parking in absolute terms, a global study has found.

The Parkopedia 2019 Global Parking Index report found the average daily price of off-street parking (aka carparks) in Australia is $US29.71 – a 6.6% increase from the previous study in 2017.

We’re well ahead of Switzerland, who moved from 10th to 2nd due to the strength of the Swiss Franc, while the US and UK, which have two of the most expensive cities in the world (New York and London), aren’t even in the top 10 due to the relatively soft pricing of parking in their other cities.

The US and the UK sit in 11th and 21st respectively.

Rank Country Average daily price (USD) 2019 vs 2017 % change (local currency)
1 Australia $29.71 6.63%
2 Switzerland $25.55 -1.33%
3 Hong Kong $24.69 9.19%
4 Monaco $24.25 N/A
5 Norway $24.11 6.41%
6 Netherlands $22.85 8.90%
7 Austria $22.10 -0.29%
8 Denmark $20.91 10.21%
9 Spain $20.08 1.29%
10 Japan $17.93 N/A

Source: Parkopedia

In terms of individual cities, Sydney, Melbourne and Brisbane all feature in the top 10 for daily off-street parking.

In the top 10, six are based in the USA and Australia.

New York occupies second place at $44.98 US dollars per day while London holds top spot at $US45.95.

CityRankAverage daily price (USD)
Sydney3 $44.39
Melbourne5 $35.52
Brisbane6 $35.36

Source: Parkopedia

Australia also has the most expensive short-term parking

Australia has also retained its title from 2017 as the most expensive country for short-term, two-hour off-street parking.

The average cost of a two-hour park here is $US15.65 – an 8.5% increase from 2017 in local currency.

Interestingly, New Zealand sits at number three at $US8.16 an hour, while the US is a distant second at $US9.68.

Rank Country Average two-hour price (USD) 2019 vs 2017 % change (local currency)
1 Australia $15.65 8.50%
2 United States $9.68 7.28%
3 New Zealand $8.16 15.28%
4 Japan $7.54 8.03%
5 Hong Kong $6.74 10.97%
6 Norway $6.61 11.42%
7 Netherlands $6.60 8.69%
8 Canada $6.17 9.28%
9 Monaco $5.93 N/A
10 Austria $5.70 1.26%

Source: Parkopedia

After adjusting for purchasing power parity, Sydney, Melbourne and Brisbane again feature in the top 10 for two-hour parking, wth Sydney taking out top spot at $US36.66.

New York is a close second at $US34.94.

Only two non-Australian or US cities – London and Hong Kong – feature in the 10 most expensive cities list.

CityRankAverage two-hour price (USD)
Sydney1$36.66
Brisbane3$27.53
Melbourne 4$26.61

Source: Parkopedia

We fare a little better for on-street parking

Australia’s two-hour on-street parking (aka meter parking) is much cheaper than off-street parking – about 200% to be exact.

This is the same for the USA and New Zealand, and according to the report this reflects “the reluctance of city governments to raise the highly visible price of on-street parking”.

Australia features in eighth spot for two-hour on-street parking, with an average cost of $US4.27.

The Netherlands is the most expensive at $6US.94, while the USA sits outside the top 10 in 14th.

Rank Country Average two-hour price (USD)
1 Netherlands $6.94
2 Norway $6.53
3 Finland $5.69
4 France $5.07
5 United Kingdom $4.69
6 Russia $4.55
7 Austria $4.35
8 Australia $4.27
9 Spain $3.54
10 Canada $3.50

Source: Parkopedia

Sydney is the only Australian city to feature in the top 10 most expensive cities for on-street parking ($US7.01).

Source: Parkopedia

Parkopedia’s report calculated parking rates for all publicly available off-street and on-street parking facilities in city centres across 70 million parking spaces and 89 countries.

It calculated prices during the following times:

  • 2-hour parking: 2-hour stay on a weekday (1100-1300 on a Wednesday)
  • Daily parking: 8-hour stay on a weekday (0930-1730 on a Wednesday)
  • Monthly parking: Unreserved monthly rate

To determine the relative cost of parking in each location, local prices were converted into $USD using a 3-month average (April-July 2019) currency exchange rate.

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William Jolly
William Jolly joined Savings.com.au as a Financial Journalist in 2018, after spending two years at financial research firm Canstar. In William's articles, you're likely to find complex financial topics and products broken down into everyday language. He is deeply passionate about improving the financial literacy of Australians and providing them with resources on how to save money in their everyday lives.
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