Suburban Paradise Paved with Pricey Parking Lots The Grattan Institute has delivered a scathing indictment of Australia's suburbs, revealing that tens of thousands of dollars are being spent on car parking spaces that may never be used.
The research highlights the perverse incentives driving up housing costs and slowing down construction in Sydney and Melbourne.
Car parks can add significantly to the cost of new units: meeting minimum requirements in Sydney can increase a unit's price by between $46,000 and $132,000, while in Melbourne the figure is slightly lower, ranging from $41,000 to $114,000.