Parking prices up 25% in six years

Car insurance provider Direct Line discovered that motorists in the country’s capital are likely to be paying the most for their parking spaces, but price rises have been felt most acutely outside of London.

Parts of the country, including Northumberland and Kent, have seen average car parking tariffs increase by around 90 per cent since 2000 and a two-hour stay in the Islington area is likely to cost close to motorists more than £7.30, the insurance firm has revealed.

Emma Holyer, spokesperson for Direct Line Car Insurance, commented: “Parking is a bone of contention for most drivers in the UK and our research shows that because of rocketing costs and limited spaces drivers are literally forced to wittingly break the law – and consequently be hit with fines in the process.”

Since August 2006, the Bank of England has raised the base rate of interest from 4.5 per cent to 5.25 per cent, adding to the financial pressures on the millions of people in Britain looking to become debt free.