Motorists in some UK cities could be paying more than £8,000 a year just to park their cars, shocking new research has revealed.
The study, carried out by cycling insurance firm Cycleplan, looked at parking costs across 30 major cities in the UK to determine where drivers were being hit the hardest.
It compared three common expenses faced by drivers, which included the maximum annual resident permit for a first car, all-day commuter parking charges and two-hour short-stay fees.
Using a combined scoring system, researchers ranked the cities to find where motorists were being hit the hardest by parking charges.
Edinburgh was named the most expensive city overall when all costs were taken into account, according to the reports.
In some parts of the Scottish capital, residents can be charged up to £777.90 a year simply to park outside their own homes. On top of that, daily and short-stay charges are also among the highest in the UK.
London came second overall, but it recorded the single highest short-stay fee in the study. Drivers can pay £10 for just two hours of parking. Someone visiting once a week for a short stay could end up spending around £520 over the course of a year.
Manchester ranked third, with consistently high charges across all three categories – resident permits, commuter parking and short stays.
The number of parking tickets issued at private car parks has increased by 24 per cent compared to last year | GETTYBrighton & Hove took fourth place and stood out for having the most expensive commuter parking in the country. All-day parking can cost as much as £35, but for someone driving to work 230 days a year, that adds up to around £8,050 annually.
Bristol completed the top five, with above-average fees for both commuter and short-stay parking pushing it into the most expensive group.
Birmingham and Glasgow were joint sixth, while Newcastle upon Tyne, Aberdeen and Reading also featured in the top ten, though with lower overall scores than the leading cities.
At the other end of the table, Swansea was named the cheapest city for parking. The Welsh city does not charge residents for parking permits. All-day parking costs £5, while two hours costs just £2.
Edinburgh was named the most expensive city in the UK for parking
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PAPlymouth was the second most affordable, followed by Wolverhampton, Stoke-on-Trent and Derby, which all ranked among the five cheapest places for motorists to park.
The findings highlighted major regional differences in what drivers are paying. In some cities, parking alone can add thousands of pounds a year to the cost of owning and running a car. In others, the expense is far more manageable.
Sean Carney, Chief Underwriting Officer at Cycleplan, said many drivers underestimate how much parking costs are eating into their budgets.
He said: “Many drivers focus on fuel or insurance when thinking about motoring costs, but parking is increasingly becoming one of the biggest everyday expenses in UK cities.
“For commuters in particular, daily parking charges can quickly add up over the course of a year and become a major part of household travel spending.
Drivers have been slapped with higher parking costs for commuting across several UK cities
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GOOGLE MAPSHe added: “At the same time, many city journeys are under five miles; distances that are often quicker, cheaper, and less stressful by bike.
“Cycling eliminates daily parking charges entirely, avoids the scramble for a space, and reduces the cost of urban travel.”
The research suggests that while fuel prices and insurance premiums often grab the headlines, parking is quietly becoming one of the biggest financial pressures for urban motorists.
