Hong Kong car park prices – how much is too much?

That Hong Kong is the most expensive place in the world to purchase a residential property it is widely known but have you thought how much it costs to own a parking space there? According to Reuters, car park spaces have tripled in value between 2010 and 2017. This is a remarkable growth on its […]

Are there enough parking spaces in Australian CBDs?

Parking Prices Australian CBDs

  ptc. regularly monitor the price of parking in Australia. In this article we review the prices in Australia’s largest capital cities investigating rate changes for daily and early bird parking across over 250 car parks.   Price as a barometer The key factors that influence car park revenue are price and occupancy (as well…...

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Booking Parking Spaces Online

Online shopping is part of contemporary life. We are as used to buying products as to booking hotels, plane tickets and restaurant tables. For some time now we can also book parking spaces not only in airports but in city centres as well; apps and websites allow us to compare offers and to choose in […]

Vandalising parking meters: coming to a street near you!

I was recently directed to an article appearing in The Age about how the citizens of a Melbourne suburb literally dealt a blow to the Council’s attempts to manage parking in the district. They resorted to bashing up the meters with hammers and other hooligan-istic practices.  I have to say that this is nothing new […]

Is Sydney Ready for a Congestion Tax?

  The topical and contentious issue of a congestion tax was again discussed in the SMH this week. As major transport projects are completed over the next few years, the Baird government has left the door open to consider introducing a congestion tax, whose aim would be to charge motorists to enter the CBD to […]

Melbourne car parks valued at $100m+ up for sale

  Two car parks located in Melbourne, have hit the market at a time when the number of purpose-built commercial car parks is rapidly declining.   According to Urban Developer, the combined sale of these two car parks will see more than 1,000 parking bays on offer with a value of more than $100 million.  This […]

Car parks are hot property in Sydney, too

As reported in the Property Observer, a spirited auction for an undercover Potts Point car space fetched $264,000.  This price reflected around $10,000 per square metre. In an area that has been described as the toughest in Australia to find a car space – with almost 25,000 residents living in a 1.89 square kilometre, restaurant mecca […]

Car Parking – Where is it headed?

We are proud to announce the release of the 2015 Whitepaper on CBD Car Parking, a joint project between Parking & Traffic Consultants and Colliers International. The focus of this report is the changing landscape of CBD car parking and the resulting challenges and opportunities created in the car parking business. In our CBDs, supply […]

Singapore’s success in managing congestion

Following on from last week’s article about Congestion Charging in London, we look at the experience of our northern neighbour, Singapore, to see another fine example of regulating traffic congestion with a multi-faceted “user pays” system. An article by DAC (Danish Architecture Centre & Cities) reminds us that Singapore was one of the first to […]

Record price for parking in NYC

Trendy SoHo in New York City is in the news for setting a record asking price for a parking spot.  The new project at 42 Crosby Street was a former parking lot and is now being developed into 10 luxury apartments (architect Annabelle Selldorf’s rendering above), as reported in the NY Times.  With apartments priced […]

US operators adopting size-based parking charges

As an adjunct to our Madrid post, we note that some parking operators in the US are also adopting variable pricing measures, but this has more to do with a scarcity of space than any green initiative.  According to the Wall Street Journal’s Market Watch, drivers of large SUVs are being charged extra to park […]

Hefty profit from Melbourne car park sale

Leigh Seymour made headlines last week with the announcement of the sale of a Melbourne car park for $40 million.   As reported in The Australian, the Victoria University car park at 300 Flinders Street was purchased by Seymour in November 2011 for $28.2 million.  Since that time, property improvements and a change of operator with […]

CBD parking space rents tipped to rise

An article in the Australian Financial Review last week tipped Sydney parking space rents to be on the rise in 2014 after four years of stagnation.   The rate has been steady since 2009 at around $800 per month, yet Sydney is still the most expensive CBD rate in the country. The article is based on […]

White Paper on Australia’s CBD car parking

Colliers International, in conjunction with Parking & Traffic Consultants, have released a white paper into CBD car parks in Australia. The paper, entitled Australian CBD Car Parking – The Next Decade, examines the current trends and the expected future of car parks in Australia. With the number of car spaces in Australian CBDs increasing only […]

The cost of parking in America

During the 2012 Intertraffic conference, the American based National Parking Association released their fourth annual Parking in America report. The study measures monthly, daily and hourly rates in cities throughout the United States and Canada, including parking facilities in hospitals, hotels, educational institutions and airports. It also documents rate trends in downtown parking areas and […]

Melbourne Airport’s Southern Precinct project

The Southern Precinct project and expansion of Melbourne’s Tullamarine Airport is part of a proposed program of investment by Melbourne Airport over the next five years. The expansion project is budgeted to cost in excess of A$1 billion. According to MICEBTN magazine, Stage 1 of the project is focused on the area south of the […]

Free parking under threat for NZ workers

A report prepared by the New Zealand Transport Agency has recommended that the government investigate changing the fringe benefit tax to include employer-subsidised parking. The proposed additional tax is being considered to address concerns that employees are undermining attempts to ‘encourage more efficient commuting behaviour’. According to Stuff.co.nz, more than half of the country’s workforce […]

Why cyclists are better customers for local businesses

A recent post on the DC Streets Blog examined the economic effects of cycling, and specifically exploring the notion that an investment in cycling infrastructure generally will limit car parking. The article quotes a few numbers, statistics and pieces of information around the economic benefits of the bicycle over the car. We’ve summarised some of the […]

Perth CBD cycling terminus to cater for bike boom

Perth’s bike boom has led to the proposal from the state government to provide a cycling facility featuring showers, lockers and parking for 500 bikes in the Perth CBD. The ten-year bicycle network plan, released by Transport Minister Troy Buswell, proposes to spend up to $10million in expanding existing bike paths and creating new paths […]

Pay by phone may now become a reality

The NSW government has recently changed legislation for on-street parking, paving the way for the introduction of ‘phone parking’. After registering their details with a third party operator, drivers would then either use a smartphone application or call a toll-free number to send their car registration details to the system, advising of their arrival in […]

City of Sydney releases transport strategy

The City of Sydney released its ‘Connecting the City’ Transport Strategy document this week. It includes a wide compilation of figures and statistics associated with traffic and transport movements in and around the city. These statistics underscore the growing impacts on amenity, lifestyles and costs and reinforce why Sydney needs an integrated transport network. Naturally, […]

Should car sharing be required in developments?

Fairfax media published an article this week exploring the range of benefits that a car share scheme is able to provide to residents, developers and councils of a city. The car-sharing model is one that’s growing rapidly in many countries, and reflects a shift in the way that people are using their cars. In recent […]

How are electric vehicle sales performing?

Figures released this week from the Federal Chamber of Automotive Industries said that only 49 electric cars were sold in Australia last year, in a market that topped 1 million total vehicles for the first time. According to the SMH, the number of electric vehicles sold declined by 9.9 per cent on 2010. Whilst politicians […]

Paid parking pays off for Joondalup

Meanwhile, the City of Joondalup (north of Perth) announced last week that the introduction of paid parking in their city centre has resulted in an increase in the number of visitors to the area. According to InMyCommunity, the scheme has met targets with regards to freeing up bays for short-term visitors, shifting them from commuters […]

Are Consultants useless and a waste of money?

An article recently contributed to Parking Today by Andrew Hill caught our eye. The article was called ‘Consultants are… “Useless,” “A Waste of Money”’, and in it, Andrew asks about one of the greatest challenges that consultants face: responding to accusations of over-charging for services or under-delivering on common sense solutions. He goes on to […]