Parking in Australia’s major cities now rivals or exceeds the cost of parking in the world’s most expensive urban centres. According to a new report, daily fees can exceed AUD$77, while inner-city parking spaces are being listed for up to AUD$150,000.
A recent study by the NRMA and Bitzios Consulting has highlighted a growing affordability concern for commuters in Sydney, Melbourne and Brisbane, where limited availability and policy shifts are pushing parking prices to record highs.
The research paints a stark comparison between Australian cities and similarly sized metropolitan areas abroad. It underscores the economic strain placed on everyday drivers and raises questions about the sustainability of urban mobility strategies amid declining parking infrastructure.
Australian Cities Top Global Charts for Daily Parking Costs
The Parkin’ Mad report outlines that drivers in Sydney are now paying an average of AUD$77.30 (US$51) per day to park in the central business district, making it one of the most expensive cities globally for vehicle parking. Melbourne follows closely at AUD$60.60 (US$39) per day, while Brisbane drivers pay around AUD$60 (US$38).
By comparison, cities with similar population and density levels in the United States—such as Boston, San Francisco and Seattle—charge significantly less. The report indicates that Boston averages US$30 per day, while Seattle is even lower at US$23. These differences highlight the scale of parking inflation in Australian capitals.
According to NRMA spokesperson Peter Khoury, a combination of urban planning decisions, such as the reduction of on-street vehicle spaces in favour of cycling infrastructure and pedestrian zones, has contributed to the pressure. “Less parking options is obviously going to increase costs,” Khoury said, calling for policy interventions to curb the upward trajectory.
High Demand Drives Car Space Sales to Unprecedented Levels
In parallel with rising daily rates, the value of inner-city car spaces is climbing steeply. A single 14-square-metre parking space in Sydney’s CBD is currently listed at AUD$150,000, which equates to AUD$10,744 per square metre, according to a real estate listing cited in the report.
In Brisbane, vacant spots are commanding high prices despite limited infrastructure. One car park at Ballow Chambers in Spring Hill is listed for AUD$37,500, with pre-pandemic sales previously reaching AUD$50,000. Another spot in the Astor Terrace Car Park is on sale for AUD$47,500, with rental rates around AUD$300 per month.
In Melbourne, prices are similarly elevated. A single car park in the CBD is listed at AUD$70,000, which is roughly equivalent to the median full-time annual salary. Two adjacent car parks in Adelaide recently sold for AUD$90,000 after being listed for AUD$48,500 each.
