Parking fees set to rise

SYDNEY is already the world's fourth dearest city to park after London, Oslo and Tokyo, and now the cost of meter parking in the city is set to rise even higher - to $7 an hour.

The 17 per cent rise in parking costs is set to continue for the next decade with Sydney City Council banking its financial future on car-related revenue.

It comes after wary motorists, avoiding driving into the city at all, have caused a $3.5 million drop in parking fines so far this financial year.

Sydney Council beats every other major city in Australia by a hefty margin for on street parking costs; topping the next most expensive cities of Melbourne and Brisbane which share a maximum rate of $4 per hour. Perth is a little lower at $3.30 per hour but Adelaide came in as the cheapest at just 2.40 per hour for CBD parking.

Detailed income forecasts reveal Sydney Council plans to suck up to 30 per cent more cash from car parks and off-street parking to $58.8 million in 10 years.

It will claw an extra $1.9 million next financial year through increasing parking costs from $6 an hour to $7 an hour in the suburbs of Haymarket, Surry Hills and the south CBD to keep parity with expected increases in off-street commercial parking rates and increased demand.

Council-owned car parks - set to jump 12 per cent to charge $58 a day or $8 an hour - are less than three-quarters full on average, the report said.

Driving a hybrid could save motorists $100 a month under the proposal, where the council will ``introduce parking fees which give preferential treatment to eco-friendly vehicles at parking stations and on the city's streets''.

Fines were down "due to improved compliance and increased use of public transport'', council reports said.

"The increases in the compliance rates by motorists have continued to lead to a lower number of parking penalty notices issued than expected,'' financial papers said.

"Revenue is expected to decline by $3.5 million.''

The council plans to increase its gross enforcement income - half of which goes to the State Government - from $41 million in 2012 to $53.4 million by 2021.

"The city remains in a very healthy financial position,'' reports before council said.

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