Does it come with a car? CBD parking space sells for $165k

If you fancy having your very own parking space in Auckland CBD you’ll need $100,000 as the price of car parks in the city continues to climb.

By the end of November, 17 freehold central Auckland residential car parks had sold with a median price of $95,000 – up from $90,000 in 2018, according to data provided by Valocity.

A parking space under the Quay West apartment block on Albert St earned the title as the year’s most expensive and the second most expensive in New Zealand when it sold for $165,000 in August.

But neither top the 2017 sale of a spot in the Quay Regency apartment building on Quay St, which went for $265,000.

Ray White realtor Damian Piggin was involved in the sale of all three car parks and says supply and demand is behind the increase in prices although the location pushed up the price of the top three sales.

“Quay West is probably one of the best freehold places you can buy a carpark on a separate title. The bottom of Albert St is within walking distance of Commercial Bay and the ferries and everything else,” he said.

“The Quay Regency park was next to 2 Queen St, which is probably one of the most sought-after buildings in the city. It’s in a part of town where there’s literally no carparking. That’s what ended up driving that one. No one expected that.”

Piggin said central city carparks in good locations were “pretty tightly held” and when they did come up for sale there was always plenty of interest.

Only two residential car parks sold outside Auckland during the year – one on Maunganui Rd in Mt Maunganui which sold for $50,000 and one in Omokoroa, which went for $10,250.

In 2018 and 2019, 53 car parks sold in Auckland and 30 sold outside the city in Invercargill, Tauranga, the Western Bay of Plenty, Wellington and Dunedin.

The most expensive outside Auckland was a space on Clark St in Dunedin central that went for $100,000.