It’s no secret that Australia’s costs of living are high, with everything from the cost of covering rent to bills and groceries adding pressure on the average Australian.
And it seems like Aussies are paying top dollar just for parking, too: according to Parkopedia’s 2019 Global Parking Index report, three Aussie cities make the top five cities that have the most expensive 2-hour off-street (carpark) parking in the world.
Sydney ranks as the world’s second-most expensive city in this regard – the average 2-hour off-street (carpark) parking sets Sydneysiders back about $40, second only to New York, where a 2-hour park costs a whopping US$34.94 (AU$51.60).
Brisbane is in third place, forking out $30.35 for a two-hour park, with Melbournites in fifth place coughing up about $29 for a couple of hours.
When it comes to on-street parking, Australia does a little better, but we still show up in the top 10 with Sydney in 7th place paying roughly $10 for two hours.
Here’s where parking is worst in Sydney:
“Australia retains its title as the most expensive country in the world for short-term off-street parking, with the USA remaining in second place,” the report said.
Melbourne and Sydney are among the global cities where off-street parking is more expensive than on-street prices.
“This trend is mirrored at country level in the USA, Australia and New Zealand, where the 2-hour off-street prices are more than 200 per cent higher than the on-street average,” it said.
“This is reflective of the reluctance of these city governments to raise the highly visible price of on-street parking.”
The Yahoo Finance All Markets Summit is on the 26th of September 2019 at the Shangri-La, Sydney. Check out the full line-up of speakers and agenda for this groundbreaking event here.