The hidden parking spots nobody uses
It’s time to rethink parking space requirements for apartment buildings, new study finds
2 min
Australians are paying for $6 billion worth of parking spaces they don’t need, a new study has found.
Research from RMIT University found that 20 percent of households in apartment blocks were not using all the parking allocated to them, while 14 percent found their allocation inadequate.
Based on earlier estimates by Committee for Sydney that each parking spot has a value of $100,000, the team concluded that’s $6 billion worth of unused space.
The study conducted in collaboration with the University of Western Australia surveyed more than 1,300 apartment residents in Sydney, Melbourne and Perth. Lead researcher Dr Chris De Gruyter from RMIT’s Centre for Urban Research said the study shows regulations mandating parking allowances according to apartment size needed review.
In Victoria, for example, every two-bedroom apartment must be allocated at least one parking spot while apartments with three or more bedrooms are required to have at least two parking spaces.
“We found in our study that people living in larger apartments tend to have an oversupply of parking because of this policy, which means they’re paying for a space they’re not using,” Dr De Gruyter said. “This oversupply is not just an inefficient use of space, it is exacerbating housing affordability issues.
“Meanwhile, apartment households with an undersupply of parking are forced to park on the street, competing with visitors in the area.”
Dr De Gruyter says the solution is to ‘unbundle’ parking spaces to give residents the flexibility to choose as little, or as much, parking space as they need.
“We can choose the number of bedrooms we want in our homes, yet we have no say in how much parking we need,” he said. “We want people to have the option to choose not to have parking instead of it being imposed on them. Similarly, those who wish to have additional parking can have this.”
Allowing residents to choose more or less parking space as required has flow-on effects, Dr De Gruyter said.
“Unbundled parking is going to help with housing affordability, reduce car use and on-street parking issues,” he said. “We’re also going to see better health for residents as there will be more physical activity due to more public transport use, and better air quality from less car use.”
International AI strategist Justin Kabbani will headline the Kanebridge Property Summit in Sydney on June 18, with tickets selling fast.
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International AI strategist Justin Kabbani will headline the Kanebridge Property Summit in Sydney on June 18, with tickets selling fast.
2 minArtificial intelligence is rapidly reshaping business, investment and competitive advantage, and now Australia’s property industry is being told it cannot afford to sit on the sidelines.
International keynote speaker and AI strategist Justin Kabbani will headline the Kanebridge Property Summit at RACA Sydney on June 18, bringing rare insight into how forward-thinking property professionals can use AI to move faster, make smarter decisions and gain a serious edge in an increasingly competitive market.
Tickets to the exclusive summit are already selling fast.
Having worked with global brands including Uber, PepsiCo, Mattel and Destination NSW, Kabbani has become one of the leading voices on how businesses can turn AI from a buzzword into a genuine commercial advantage.
Known for his high-energy and highly practical presentations, Kabbani cuts through the hype surrounding AI and focuses on what actually matters: productivity, growth, leadership and real-world business results.
His keynote will explore how AI is already transforming industries globally, and what property developers, investors, agents and business leaders need to understand now to avoid being left behind.
Importantly, the session is designed to be practical, not theoretical.
Attendees will hear how AI can be applied across marketing, sales, operations and decision-making to improve efficiency, sharpen strategy and create new competitive advantages in a rapidly changing business environment.
The summit will also feature an exclusive roundtable bringing together leading property and finance experts for a candid, off-the-record Q&A exploring the forces shaping investment, development and wealth creation across Australia’s prestige property market.
The event follows the success of last year’s sold-out summit and will once again be hosted by respected MC John Alten.
With AI becoming one of the biggest disruptors facing business, the June 18 summit is expected to attract strong interest from property professionals, investors and business leaders looking to stay ahead of the curve.
The followings are included in every ticket:
- Full access to keynote sessions and the interactive roundtable.
- Premium selection of canapés and beverages throughout the evening.
- Complimentary annual digital subscription to two leading publications (Wall Street Journal and Kanebridge Quarterly), providing essential coverage of local and global markets, property trends and investment strategy.
Tickets are limited and selling quickly and you can buy here.
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