Tolls set to rise, Brisbane CBD parking now most expensive in Australia

Brisbane has the most expensive off-street parking of any CBD in Australia, according to a new analysis that reveals carpark fees in the Queensland capital have overtaken Sydney in the past 12 months.

As the state government prepares a major advertising campaign to promote its trial of 50¢ public transport fares, Brisbane motorists are being hit with higher fees and charges.

Brisbane has the most expensive fees for off-street parking of any CBD in Australia.Credit: Dan Peled

An analysis by Ray White Corporate shows the maximum daily fee for a parking spot in a Brisbane CBD centre is now $79.67. That is higher than any other CBD, albeit with Brisbane offering the highest online discount and second-highest early bird discount.

Ray White head of research Vanessa Rader said the government’s cheap fares could force carpark operators to reduce their fees to compete.

“The gap between parking costs and near-free public transport is likely too much to be passed up by regular commuters,” Rader said.

Brisbane has overtaken Sydney as the most expensive CBD for off-street paid parking.Credit: Ray White Corporate

While the government has frozen vehicle registration fees, Queensland motorists are still dealing with the high cost of insurance and running costs, including petrol. In 2023, the cost of a tank of petrol was higher in Brisbane than any other capital city, according to the NRMA.

From July 1, the tolls on Brisbane’s major traffic tunnels and several bridges will increase by around four per cent, in line with the Brisbane-specific rate of inflation.

Toll operator Transurban - which is hoping to add a Gympie Road Bypass Tunnel to its network - made $520 million out of Brisbane motorists in 2022-23.

RACQ managing director David Carter welcomed the cheap fares but said, over the longer term, government investment was required to make public transport a better alternative.

“This includes better infrastructure, higher-frequency and faster rail services and overhauling bus services with more direct, high-frequency services,” Carter said.

“Current governments have inherited long-term under-investment in roads, which has exacerbated the impact of a fast-growing population on congestion.”

While inner-city suburbs are best serviced by public transport, Premier Steven Miles said 50¢ fares would provide bigger savings for people in outer suburbs who opted not to drive.

“I’m really excited about this initiative because I think it is both going to address cost of living, give people a better experience, get people home faster, and ease the traffic,” Miles said on Monday.

The cheap fares were announced after the government backed a Brisbane City Council plan to reduce the number of carparks required in major apartment projects.

The planning changes would encourage people buying into areas such as Fortitude Valley, Milton, Kangaroo Point and Newstead to use public transport.

The South East Queensland Plan also encourages higher density around public transport hubs and employment centres, particularly in the Brisbane council area.

The recent federal budget did little to resolve questions over who will fund the road and other infrastructure upgrades required to bolster Queensland to cope with population growth.

The state budget will be handed down on June 11.