Struggling to find convenient and cheap parking in Melbourne? A monthly parking space might be the parking solution you’re looking for.
Parking can be tricky in Melbourne, but it’s not entirely due to a lack of available parking spaces.
According to the City of Melbourne, 130 car parks are providing 68,000 off-street spaces for public parking across the greater Melbourne area, with 40% of them located in the CBD.
When it comes to street parking, a recent study found that Melbourne has plenty to spare.
RMIT University found that about half of the street parking spots in Melbourne could be moved closer to empty spots in parking garages nearby and there would still be enough parking on the street, including spots for loading and disability access.
But you can ask any Melburnian, and they’ll probably tell you finding a cheap and convenient parking space in the Victorian capital is harder than it sounds.
A recent report from Parkhound showed most parking close to Melbourne CBD is incredibly costly and highly contested.
Off-street parking rates in Melbourne’s CBD average $18.15 per hour, $36.30 for two hours, and a hefty $79 for a full day. Meanwhile, on-street parking in Melbourne costs around $7 per hour.
Cheaper car parks, which are located in Williamstown and Canterbury, lie over 10km outside of the centre, meaning you’ll need to travel for over an hour on public transport to reach the CBD.
Understanding Melbourne’s parking challenges boils down to supply and demand. In big cities like Sydney and Melbourne, where space is at a premium and the number of drivers is high, parking becomes a sought-after commodity.
So while there’s plenty of parking available, demand still outweighs supply. This causes the value of parking to increase, especially in high-demand areas such as in Melbourne CBD, Fitzroy, St Kilda, Carlton, and Southbank.
And that’s a problem for a city that loves to drive. In 2016, over 1.3 million Melburnians, constituting 74% of the commuting population, relied solely on cars for their commute.
By 2021, this percentage fell to 49.7% with the rise of the work-from-home setup. Despite the decline, the number of Melburnians relying on cars for their commute still stood at around 1.2 million in the latest census, due to factors like Melbourne’s population growth.
With commuting being a regular part of life for many Melburnians, some have found a smarter way to park by booking monthly parking spaces.
Here are five solid reasons why getting a monthly parking space in Melbourne might just be the perfect solution for you.
Why you should book a monthly parking space in Melbourne
1. Help you save money
Booking a monthly parking space can help you cut down extra expenses from your budget.
This is especially important as the cost of living crisis in Australia worsens due to higher costs of groceries, petrol, electricity, and housing.
While a monthly parking space might seem like an upfront expense, the long-term savings on meters, parking fines, and even petrol can make it a smart financial choice.
Breaking it down, a monthly parking fee can also often result in lower daily costs compared to paying for parking daily.
For example, a day of parking in one of the busiest areas located in the heart of Melbourne, Lonsdale Street, will cost you back $45 daily with traditional and commercial operators.
If we calculate the monthly cost of parking based on an average of 20 weekdays (4 weeks times 5 weekdays), you can pay up to $900.
But with innovative platforms like Spacer offering monthly parking, you don’t have to spend as much just to have a parking space.
With Spacer, you can find a monthly parking space in Lonsdale Street that can be rented out for as low as $330 per month – that’s just $17 per day!
2. Guaranteed security
Another benefit of securing a monthly parking space is the assurance of safety for your vehicle.
And with car theft on the rise, knowing where your vehicle is parked matters more than ever.
In Victoria, car theft is increasing at an alarming rate. According to the Crime Statistics Agency (CSA), there were 19,073 motor vehicle thefts recorded across the state in the year to September 2023, marking a hefty 24.96% increase from the previous year.
Platforms like Spacer offer the flexibility to select a parking spot that suits your security needs.
You can choose a driveway, undercover, or underground parking space equipped with surveillance cameras, secure gates, or other safety features.
Having a secure parking spot for the long term also means having peace of mind, knowing you won’t have to worry about constantly finding another safe place to park near your home, work, or university.
3. Convenience
Another major benefit of having a monthly parking space in Melbourne is the convenience it offers.
By having a reserved parking space waiting at your destination, you don’t have to waste time (and petrol) circling in a car park, hoping a spot would open up.
If you’re street parking, a dedicated parking space also means you won’t have to worry about moving your car or feeding the parking meter every hour or so, or risk getting a parking ticket.
Booking a monthly parking space near your work or home ensures you won’t have to settle for parking in a distant spot, avoiding the need for long walks.
You can also secure a parking space near Spencer St Station and Flinders Street Station, making your commute using different modes of transportation easy and convenient.
4. 24/7 access to parking
Booking a monthly parking space also provides the convenience of unlimited access.
Unlike commercial car parks with set entry and exit times, where you may need to plan your schedule around early bird promotions or rush to leave before closing time, a monthly parking spot offers unrestricted access
This means you can come and go as you please, whether it’s during regular business hours or late at night, without worrying about time constraints or additional fees.
5. Helping the environment
This may come as a surprise, but did you know that choosing a monthly parking space in Melbourne can also be good for the planet?
By having a designated parking space, you spend less time driving around looking for parking, which means less fuel burned and fewer emissions released into the air. This helps keep the air cleaner and reduces traffic congestion in the city.
Platforms like Spacer also help make the most of underutilised urban spaces by connecting drivers with available parking spots. The best part? You can also help space owners make extra money from their unused driveway or garage!
Find a monthly parking space in Melbourne with Spacer
Although a monthly parking space in Melbourne feels like a big commitment, it’s the best parking solution for those who are looking to save time and money.
A monthly parking space means no more stressing about finding parking when you reach your destination. It’s also having peace of mind that your car is parked in a safe and secure area.
With Spacer, you can find the best parking options in Melbourne quickly and easily. Save money on parking fees and avoid the hassle of finding a parking space yourself.
