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Parking charges to rocket garaged homes prices

The cost of houses with garages could rise by up to 20% if the planned 'gas guzzler' tax gets the go-ahead.

Middle class suburbia is set to be the worst affected, according to property portal primemove.com, causing a significant rise in demand for properties with garages or off street parking facilities

The 'parking tax', initially planned to affect just Richmond-upon-Thames, could be introduced across London and other inner cities in the form of more expensive parking permits, and will hit owners of Band G cars with high emission engines, such as Renault Espaces, BMWs and Mercedes.

According to data from Experian, the City of London, Windsor & Maidenhead, Buckinghamshire, Kensington & Chelsea and Slough have the greatest proportion of Band G cars. In some of these areas homeowners are more likely to be able to afford garages or off-street parking, meaning it will be middle class families who will be the worst hit.

Primemove founder Henry Pryor said: “It is not just the super rich areas of the country that will be affected if the proposed parking tax was adopted on a national level. The so-called 'Chelsea tractors' are popular across the entire country, including Milton Keynes, Bromley and Windsor which have ranked highly in the table.”

“We expect middle class suburbia will be the worst affected, as greater demand for garages and off-street parking could mean further property price rises in the areas that have already seen the highest price rises this year. The brunt of this 'parking tax' will hit families, particularly those owning a second car for the school run.”

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London 'band g' car index, Experian
Local/Unitary Authority	G-Index
City of London	513
Kensington and Chelsea	215
Westminster	198
Richmond upon Thames	163
Bromley	152
Barnet	147
Wandsworth	146
Havering	127
Harrow	123
Camden	117
Kingston upon Thames	113
Redbridge	113
Hillingdon	111
Hammersmith and Fulham	105
Bexley	104
Enfield	100
Hounslow	98
Merton	97
Sutton	97
Croydon	96
Ealing	86
Brent	72
Greenwich	69
Islington	65
Tower Hamlets	61
Waltham Forest	61
Haringey	59
Southwark	58
Lambeth	53
Lewisham	51
Barking and Dagenham	50
Newham	36
Hackney	33
Totals	100

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