New research suggests London Labour Mayor Sadiq Khan’s efforts to deter motorists are having a clear impact on the sale of designated parking spaces.

Transactions in this niche sector are down 54% annually.

But despite this, parking spaces continue to prove hot property within the capital, with the average sold price sitting at £84,500, climbing to over £800,000 in some boroughs.

Enness Global analysed price paid data from the Land Registry, looking at the average price paid for parking spaces and garages across the London market in 2025, as well as how transaction levels have changed when compared to the previous year.

The Mayor of London has implemented a series of measures aimed at reducing car usage across the capital, including the expansion of the Ultra Low Emission Zone to cover all London boroughs, increases to the Congestion Charge, the removal of exemptions for certain vehicle types, and the introduction of new toll-based charges such as those linked to the Silvertown Tunnel.

Further proposals, including additional costs for larger vehicles, are also being considered as part of a broader push to discourage private vehicle ownership.

The research shows that across London as a whole, transaction levels involving parking spaces have fallen by 54% year-on-year, highlighting the impact of the Mayor’s continued efforts to deter motorists from the capital.

Despite this sharp decline in activity, the average price paid for a parking space currently sits at £84,500, underlining the premium placed on designated, secure parking within London.

At the top end of the market, it’s boroughs such as Hackney where a parking space will set you back the most, as over the last year the average parking spot has sold for an average of £875,000.

Hackney is closely followed by the City of London at £862,500, whilst other high-value boroughs include Islington, where the average price sits at £623,750, followed by Tower Hamlets at £555,000 and Lewisham at £462,500.

Even in areas outside of prime central London, parking spaces are commanding significant premiums, with boroughs such as Harrow, Hillingdon and Westminster all seeing average prices in excess of £390,000.