Poll: Do we pay too much for car parking in Chch?
You might be paying too much for your parking, new research suggests.
Ray White Group head of research Vanessa Rader looked at how New Zealand cities car park prices compared after conducting similar research in Australia.
She found what New Zealanders pay for parking varies dramatically, even within cities.
On average, she said the daily fees being paid in CBDs was $32.60 in Christchurch, $39.53 in Auckland, and $37.83 in Wellington.
But people in Christchurch could pay anything between $10 to $98, while Aucklanders may pay from $12 to $80 and Wellingtonians $15 to $50.
She said the range within cities suggested markets were 'highly fragmented' and location, quality and convenience made a big difference to price.
In Australia, the difference between cities was much more pronounced than within them, she said.
'People always think of Auckland as being the most expensive but it's not wildly more expensive.
'It's really location sensitive. If people want to be in certain locations they're willing to pay that extra. But if you're just someone that's commuting and you're happy to walk a couple of blocks you can get a much cheaper price and you're still definitely within the CBD.'
Rader said Christchurch has the most aggressive 'early bird' discounts at 48.97%, which suggested oversupply or weaker demand fundamentals.
'This mirrors strategies seen in other struggling markets where operators prioritise volume over margin to maintain cash flow. Wellington's more moderate 43.44% early bird discount indicated a more balanced supply-demand dynamic, while Auckland's 43.95% discount suggested healthy competition without desperation.'
Rader said booking online would give people good savings on their car parking. Operators had improved their offerings and made it easier to access charging facilities and parking via phone apps, she said.
'You don't need to book days in advance or anything, it's all making it very seamless. Those car parking facilities that have a really easy way of being able to book their parking seem to be doing better.'
People who own car park spaces were also using platforms to offer them to other people when they were not in use, she said.
'There seems to be a lot of that happening in Auckland, not anywhere else that I can see.'
Christchurch had a 28.2% online discount, Auckland 19.9%, and Wellington 12.8%.
She said the shift to working from home had also affected parking operators. But few car parks had changed hands in New Zealand.
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