Extra car spaces boost house values with street parking at a premium HEFTY BONUS: Having car-parking space in a garage or carport is increasingly becoming a checklist priority in city living. AS street parking becomes a premium in Brisbane's busiest suburbs, extra car spaces are adding to the value of homes. Houses with room for multiple cars are selling for as much as $50,000 more than similar properties in the same area. In Chermside, in Brisbane's north, two identical town houses sold at different prices because of parking. One home at 1/23A Ronmack St, Chermside with five car spaces sold for $422,000 while an identical property at 5/23A with one car space sold for $372,500. Both properties were sold within two weeks of each other by the same agent. Ray White Keperra agent Bradley Butten said the sale was an example of how much buyers were willing to pay for parking. "They (the townhouses) were identical in size and features and the parking was the only difference between them," he said. It goes to show that a garage or carport could make as much as $50,000 worth of difference to a sale. Diana Howes of Resolution Research said they priced an inner-city car park in a new development as being worth about $55,000. Mr Butten said buyers would always be attracted to homes with a double garage instead of a single. "It matters more in suburbs where street parking isn't freely available like Chermside, Kelvin Grove or Wooloowin," he said. The value of a car park increases when you're buying near any major university, shopping centre and, of course, near the city. It's very obvious with townhouses because of that common ground you share with neighbours. LJ Hooker Toowong sales agent Daniel Lee said car spaces were a big issue in Brisbane's western suburbs as well. "They definitely added to the value of a house," he said. Mr Lee said an extra garage could add an extra $10,000 to $20,000 to a house. In an area where people often need street parking permits, having that much space is a great feature. High demand for parking has lead Brisbane City Council to declare some areas residential parking permit areas. They are mostly around hospitals, universities, sports venues and entertainment and shopping areas and include Auchenflower, Buranda, Dutton Park, Herston, Holland Park West and Newstead Online advertising site Gumtree has dozens of private car parking spaces listed for rent in inner suburbs. Rents in suburbs about 5km to 10km from the CBD range from between $40 and $60 a week, while CBD rates are about $80 a week and upwards. Property manager Brooke Willis said $80 a week seemed to be the average the owners charged and when compared with paying for daily or weekly space in a commercial car park, that could be a huge saving.