Brisbane CBD parking is Asia's third most expensive Marissa Calligeros May 3, 2011 - 9:00AM
In 2001, parking in the centre of the city cost an average of $6.64 for one hour.
It has since increased more than 200 per cent to $21.65 for up to one hour.
Advertisement: Story continues below The TTM Consulting report, commissioned by RACQ and released today, shows the average cost of one-hour parking in the Brisbane CBD is 26 per cent higher than in Melbourne ($15.98).
Motorists pay about $4 more to park in the Sydney CBD, where prices are generally 19 per cent higher ($25.83) than those in Brisbane.
State government charges are not levied on non-residential parking spaces in Brisbane's CBD, unlike in Sydney and Melbourne, where government charges push up prices in the order of 25 per cent, the report shows.
Short-term weekend parking costs have increased threefold since 2001 in Brisbane's CBD, despite there being no state government levy on non-residential spaces.
The average cost of two-hour parking in 2001 was $10.18 compared with the current cost of $30.58.
The average cost for four-hour parking in 2001 was $16.61. It is now $48. The report notes that central business district parking supply is based on “parking limitation” policies which constrain parking supply at levels below demand.
The report also revealed the central and north zones of the Brisbane CBD, from North Quay, to Turbot, Boundary and Wickham streets, are the cheapest areas to park in, with the average daily charge less than $50.
The most expensive areas to park are in the east and south zones of the CBD, between Elizabeth, Edward, Queen and Eagle streets, with the average daily charge more than $55.
While overall CBD parking supply has increased over the past two decades, parking supply has increasingly become privatised and inaccessible to the general public, particularly at weekends and in evening periods, the report says.
"The consequential casual short-term parking price outcome has been exacerbated by the introduction of on-street metered pricing and the lack of any significant commercial car park development in the CBD for several decades," the report reads.
RACQ spokesman Paul Turner said excessive parking costs could cripple the CBD's restaurants and shops.
“As any of us who have parked in the inner city realise, the costs have increased significantly over the years, particularly for short-term parking,” he said.
“This means that the city is becoming less attractive as a destination for shopping, dining or entertainment.
“I think we would all want a CBD like Paris rather than Dallas in the years ahead,” Mr Turner said.
“Unfortunately our CBD is heading in the direction of Dallas where the only ones who can afford to park in the city are commuters on early bird or all-day parking.
"This means that in the future the restaurants, cinemas and shops will be replaced by office blocks as short-term parking becomes even more expensive.”
Mr Turner said very few stand-alone car parking stations had been built in the city over the past 30 years and that this should be considered as a way of keeping the city attractive for casual car parkers.
“We need to unlock more casual car parks so the price comes down and the Brisbane CBD remains a vibrant shopping, dining and entertainment destination in the years ahead,” he said
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