In fact, seven in ten (68 per cent) would be prepared to pay more for a property with a designated parking space or driveway. As the British love affair with our motors looks set to continue, the latest figures show that more than three in five women (63 per cent) and four fifths of men (81 per cent) now hold a full UK driving licence and three quarters of households now own at least one car.
Of UK homebuyers, those aged between 55-64 would be more likely to pay extra. Nearly four in five (77 per cent) of this age group stated they would be prepared to splash out to secure a private parking spot. This compares to two in five (43 per cent) of those aged 16-24, who would not be prepared to pay a premium for their parking.
The Halifax Estate Agents research also shows that more than four in five (84 per cent) residents in the West Midlands are willing to pay more for parking. However, inhabitants of the North West are least prepared to pay out with less than three in five (58 per cent) prepared to pay a premium.
Paying a premium for parking
The Halifax Estate Agents survey found that on average, people would be prepared to pay just under £5,000 (£4800.30). One in ten people (11 per cent) would pay up to an additional £5,000 to £10,000 for a property with private parking.
Across the ages
In terms of age, almost one in ten (9 per cent) of those in the 35-44 years age group would refuse to pay any more for a new home to include a designated parking area. However, nearly three quarters of respondents aged 25-34 years would be prepared to count out up to an additional £5,000. In this same age group, 1 per cent also said they would be willing to pay between £50,000 - £100,000 extra to secure a parking spot for their vehicle.
Geographical Differences
Northerners are sitting tight with more than one in ten (11 per cent) unwilling to pay more for designated parking facilities. Conversely, two in five residents in Wales would consider paying between £5,000 and £10,000. In the South-West 1 per cent of respondents stated they would be prepared more than £100,000 to secure a designated parking area.
Colin Kemp, managing director of Halifax Estate Agents, commented: "Our research shows that access to private parking facilities is highly desirable when searching for property. If you are selling your home, make sure any parking facilities are presented to reflect their intended use as much as possible. For example, clear any junk out of the garage so it obvious that there is adequate space for a car and make sure driveways are weed free and cleared of rubbish."
