Parking spaces in London can cost more than an actual house
Crivens! A parking space in Central London can now be worth considerably more than a house in other parts of the country according to a study. If you bagged a vehicle bay in Kensington and Chelsea, it could well set you back £95,800 which is £13K more than the average price of a whole house in Middlesbrough.
That's also, roughly speaking, the price of a house in Manchester.
In fairness, such is the terrible log-jam of traffic in London, the commute from Boro would probably be as long. Possibly.
Julian Hartley, mortgage director at ING Direct, said: ‘For most Britons, a parking space is a must for their ideal home, which is why so many of us are willing to pay for the privilege.
‘In Central London locations, where you’ll find some of the most expensive properties in the world, a parking space will bring with it a hefty price tag.’
It's this price tag that sees homeowners in London renting out their driveways to commuters with some earning up to £300 per month, which is handy, especially if you live near a football ground or train station. If you're mad enough to live in the capital, then you can advertise your parking spot via sites like parkatmyhouse.co.uk. Or, y'know, live somewhere nicer.