Councils in London are under-charging for residential on-street parking spaces, a think tank has found today.
A new report by Centre for London reveals it costs councils £336 on average to operate a parking space in inner London. However, the average resident permit costs between £51-230 so even the most expensive permits are falling short.
The report also found The think tank is calling for councils to ensure residential permit charges fully cover operating costs, and move towards an emission-based charging structure.
It also recommends reallocating parking space to other uses that prioritise such as cycleways, disabled bays and green space.
Joe Wills, senior researcher at Centre for London said: ‘Residential parking in the capital is under-priced, while Londoners prioritise green spaces and clutter-free pavements over on-street parking.
‘With a climate emergency on our hands, councils can play an important role in encouraging the shift from car use towards walking, cycling and public transport – and many are already doing good work here.’