Tired of hunting for convenient and cheap parking in Brisbane? Discover why renting a monthly parking space could be the game-changer you’ve been hoping for.
Brisbane, the vibrant capital of Queensland, is a city that wears many hats. Ask ten different people what comes to mind when they think of Brisbane, and you might get 10 different answers.
For many, Brisbane City is Australia’s Sunshine Capital. With an average of over 280 days bathed in sunlight each year, the River City enjoys more sunshine and warmth than just about anywhere else in the country.
This perfect weather makes the city for sun and adventure seekers – think picnics in New Farm Park, bike rides along the Brisbane River at The Gap, or exploring the Jan Powers Farmers Markets at Milton.
For others, Brisbane is a city brimming with opportunity. Fueled by strong economic growth, the Queensland capital has become one of the world’s fastest-growing capital cities.
And let’s not forget the city’s strong sports culture! Brisbane is a haven for sports fans, with a thriving local scene and hosting major national and international sporting events.
Whether you’re cheering on the Brisbane Broncos in the NRL or catching a world-class cricket match in The Gabba, the city’s energy is truly electric.
Brisbane has been named Australia’s top sports city by the 2023 BCW Index and the host city for the 2032 Olympic and Paralympic Games.
People who fall in love with the city’s iconic landmarks will most likely rattle off what they know about the Story Bridge, the Wheel of Brisbane, or the magnificent City Botanic Gardens.
As a testament to the city’s charm, TIME Magazine named Brisbane as one of the world’s greatest places to visit in 2023, making it the only Australian city to be included in the Top 50!
However, there’s one aspect of Brisbane that might not make everyone’s “best of” list: parking.
Brisbane residents are all too familiar with the challenges of finding parking in the city, particularly in high-demand areas, where it can be both difficult and costly.
While this parking challenge is not unique to the city, Brisbane’s parking prices are still in a league of their own.
According to data from UK car maintenance company Fixter, Brisbane ranks fifth for having some of the highest parking fees among 65 major cities worldwide. Only New York, Boston, Sydney, and London have higher parking fees.
For those living and working in Brisbane, the daily cost of parking quickly becomes economically impractical. As a result, there’s been a growing trend of Brisbanites opting for monthly parking in the city.
In this article, we look into why parking in Brisbane is so expensive and how a monthly parking space can be the life-changing solution you are looking for.
5 reasons why parking in Brisbane is so expensive
Parkhound’s data showed parking in Brisbane CBD is part of Australia’s ‘big three club’ for expensive parking costs, alongside Melbourne and Sydney.
Here’s a closer look at why Brisbane parking costs a pretty penny:
1. Supply versus demand imbalance
The main reason Brisbane parking fees are so high is because more people are looking for parking than there are spaces available.
Over the past two decades, Brisbane’s population has been steadily increasing. During 2022-2023 alone, the population of Greater Brisbane increased by 81,200 people (3.1 per cent), the third-highest growth rate behind Perth (3.6 per cent) and Melbourne (3.3 per cent).
Along with the rise in the population are the number of cars travelling Brisbane’s roads.
Data on car ownership of the households in Greater Brisbane in 2021 showed that 89.2 per cent of the households owned at least one car – the highest among all Australian states and territories.
Unfortunately, this rapid growth hasn’t been matched by a corresponding increase in parking infrastructure, leading to a shortage of spaces. This problem is particularly felt by drivers in high-demand areas, such as in the CBD and inner suburbs.
2. Limited on-street parking
A 2020 report by the Royal Automobile Club of Queensland (RACQ) found that Brisbane has the second-highest average cost for on-street parking in Australia, at $4.90 per hour. As of 2023, Brisbane’s on-street parking costs around $6.15 per hour.
The exorbitant prices, according to the organisation, are mainly due to the lack of available spaces. Brisbane only has 7,500 metered parking spaces, making it tough to find street parking. Adding to the pain is drivers dealing with short time limits.
This leads to fierce competition for parking, often resulting in drivers resorting to expensive commercial parking options.
3. Lack of competition
According to the Royal Automobile Club of Queensland (RACQ), parking fees in Brisbane are very expensive due to the small pool of parking operators in the city.
A significant portion of Brisbane’s off-street parking facilities are operated by private companies and the lack of competition likely contributed to Brisbane’s high parking prices.
4. Public transport shortcomings
While Brisbane has a good and growing public transport network, a 2020 report by the Public Transport Authority of Queensland (PTAQ) acknowledged limitations in reach and frequency, particularly in outer suburbs.
When public transport isn’t an option for everyone, lots of people keep using cars. This keeps parking demand high and prices up.
5. Limited parking incentives and regulations
The Brisbane City Council offers some resident parking permits and discounts, but they may not be widely available or effectively tackle the broader issue of costly commercial parking.
Without broader regulations or incentives to manage pricing across private operators, parking costs can fluctuate and potentially reach high levels.
5 benefits of monthly parking in Brisbane
If you’re someone who needs regular and consistent access to parking, here are some reasons why renting a monthly parking space can change the way you live, work, and explore in Brisbane:
1. Saves money
Getting a monthly parking space in Brisbane can help you or your family reduce spending on transport costs, which includes parking fees.
And with Brisbane named the epicentre of an ongoing cost-of-living crisis in Australia, it’s more important than ever for households to sharpen their pencils.
Aussies have been feeling the squeeze of increasing cost of living for a while now, and there are not many other areas where they can further tighten the proverbial belt on their budgets. While there is a bigger upfront cost to shoulder when you book a monthly parking space, crunching the numbers shows you can get big savings compared to paying for daily parking.
For example, daily parking in Queens Street, located in the heart of Brisbane, can set you back by $65 per day. 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 $1,300.
But with innovative platforms like Spacer that offer monthly parking, you can get the same space at a fraction of the cost.
A quick search of the website will show parking spots in the same Queen Street area can be rented out for as low as $455 per month – that’s $15 per day based on a 30-day month average.
By booking a monthly parking space, the extra hundreds of dollars you saved can be used on your next grocery run, help pay for your rent, or heck, even your next vacation!
2. Convenience
Brisbanites often end up with parking spots that are way too far from where they need to be.
And let’s face it, nothing ruins your day quite like feeling like you’ve run a marathon just to reach your car and back.
This is where a monthly parking space comes in handy. Having a reserved long-term parking spot near your destination saves you from walking a long driving commute to work or after a long day at your office, business, or university.
And with Spacer, you get access to prime parking locations across Brisbane! You can easily find a cheap and convenient monthly parking space in high-demand areas such as Fortitude Valley, New Farm, Teneriffe, Spring Hill, and more!
3.Guaranteed parking
Booking in advance also saves you from circling the car park to find that ‘Goldilocks’ parking space you’re after.
No more stress waiting for a parking space to open up and no more competing with other people who are raring for a spot too.
It gives you the peace of mind that when you arrive at a destination, there’s a parking space waiting for you. This is especially beneficial in areas where finding parking can be stressful and time-consuming.
4. 24/7 parking
If you work late hours or have an irregular schedule, monthly parking gives you access to parking 24 hours a day, 7 days a week.
You don’t have to leave your home early just to qualify for an early bird rate and you don’t have to worry about getting a penalty for leaving a car park outside the allotted exit times.
This gives you the freedom to move in and out throughout the day, giving you greater control of your time.
5. Peace of mind
Having a monthly parking space gives you the peace of mind that your vehicle is in a secure location.
It’s worth noting that Brisbane recorded the highest number of car theft incidents in 2022, with 4,504 vehicles stolen during the year.
Booking a monthly parking space with platforms like Spacer allows you to choose a parking space with security features like surveillance cameras, patrolling security personnel, etc. You can also see if a parking space is in a well-lit area or close to where you need to be!
Find monthly parking in Brisbane with Spacer!
Monthly parking offers Brisbanites a new way to park: one that is stress-free and convenient.
Not only does it help save time, money, and petrol, but a monthly parking space can give you the peace of mind that you are parking in a safe and secure location with unlimited access.
Ready to find your monthly parking spot in Brisbane? Make sure to check out Spacer! Whether you’re looking for a driveway near your home in Paddington, or near your workplace in Brisbane CBD, Spacer has a parking space that fits your needs.
