London parking spot values revealed
London parking spot prices revealed as average cost hits £760,000 in one borough
The latest research from Jefferies London has found that prime homebuyers in Islington paid an average of £760,000 for a parking space over the last 12 months, making it the most expensive London borough in which to secure a private parking spot.
The research from Jefferies London analysed Land Registry Price Paid data for transactions of designated parking spaces across the capital. It compared the average (median) price paid between June 2024 and May 2025 with the same period a year earlier to understand how values have shifted across each borough.
It found that across London as a whole, the average price paid for a parking space was £130,000. This marks a 70% increase versus the previous 12 months, when the average stood at £76,250.
Islington ranks top, with parking spaces commanding a staggering average of £760,000, up 41% year on year. Tower Hamlets follows, where buyers paid £600,000 on average, an increase of 146% compared to the previous 12-month period.
Other high-value boroughs include Merton, where the average price paid for a parking space stood at £420,000, as well as Redbridge (£293,000) and Waltham Forest (£280,000), despite both boroughs recording annual declines of 21% and 34% respectively.
In central London, parking spots in Westminster rose by 23% year on year to an average of £110,000, while in Kensington and Chelsea, the typical space fetched £80,000, up 5% annually.
Not all boroughs saw rising values. In Richmond upon Thames, the average price dropped by 85% to £45,000. Southwark saw a 91% fall to just £25,000, and Ealing recorded the most significant decline of 99%, with average parking prices tumbling to £5,000.
Damien Jefferies, Founder of Jefferies London, commented:
“The cost of purchasing a private parking spot in the capital remains rather shocking, particularly in prime boroughs such as Islington, where the average price of a parking space has sat at £760,000 over the last 12 months.
This dramatic rise is being driven by a combination of limited supply, planning restrictions, and the increasing appeal of private, off-street parking.
With car ownership in prime London remaining strong despite the city’s public transport infrastructure, competition for secure parking spaces shows no sign of slowing.”
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