What four wheels you drive has always been a symbol of wealth and despite the challenges of parking spaces, permits and congestion charges, it appears the capital’s love affair with cars isn’t over, as new research shows.
Enness Global Mortgages found that prime London properties listed on the market with parking were in demand. The boroughs with the highest number of high-end homes (£3 million+) sold with parking included Kensington & Chelsea and Wandsworth.
And we may see demand for parking bays, garages and driveways rise in the coming months, thanks to a change in spending attitudes. Aspire’s Tom Ward notes that there is a greater adoption of a ‘life’s too short’ attitude: “There is a willingness in the market not to sit on cash and many are hedging their pounds against inflation. As well as soaring activity in the stocks, collectables and crypto markets, cars are back on the buying agenda.”
Whether you favour a TVR Speed 12 or a Tesla all-electric, Aspire understands that parking in the capital is at a premium. If your next move must include somewhere for your classic car collection or an electric charging point, contact us for suitable properties for sale and to rent.