Do car parking spaces add
value to a home?
Along with the number of bedrooms and bathrooms, the number
of car parking spaces is one of the three standard criteria
commonly used in marketing a home.
Stand-alone car spaces are valuable and can be sold if they
are on a separate title. Their value depends on the
availability of off-street parking and access to good public
The question is - how much value does a car parking space
add to a home?
This question arose recently in a court case in which
McGrath Sales was sued for misrepresenting the number of car
spaces in its website listing for the property. The listing
stated: Double garage plus private off street and
The property was a house in one of the best streets in
Sydney's eastern suburbs - Ginahgulla Road, Bellevue Hill.
The problem was there is very little on-street parking
because it is close to two schools - Scots College and
So the owners reserved one side of a wide common driveway
for parking 3 - 4 cars, in tandem, and had placed two
Private parking signs on the wall. They were the
driveway parking spots described in the listing.
Technically, the driveway parking spots were on a right of
way and were therefore available only for temporary parking,
so as not to obstruct the right of way. For this reason, the
Court ruled that the description was misleading and
Fortunately for McGrath Sales, the Court found that the
buyer bought the house because they 'fell in love' with it,
not because of the parking, and so the misleading statements
on the listing had not caused them any loss.
For the exercise, the Court considered the evidence of two
expert valuers on the value of the driveway parking, had it
not been on a right of way. The Court valued it at $150,000.
You should keep in mind that the house had a double garage
and parking for 2 cars in front of the garage, so the
driveway parking was a 'bonus' not a necessity.
So, car spaces can add significant value to homes.
case note on the court case
click Why parking
on a right of way is a vexed issue