A new study has revealed that properties with parking spaces in Truro are worth more than those without. 

The study, by online car seller Cinch, analysed property values of listings with and without parking on Rightmove. 

The data covered cities across England, Wales and Scotland, with Truro getting the sixth biggest house price value increase - 16.4 per cent - from the inclusion of a parking space. 

As well as this, Truro was named the most parking-friendly city in the UK when buying a property, as 92.3 per cent of homes listed for sale have parking. 

Sam Sheehan, motoring editor at Cinch, said: “Most people looking to buy a property will have a wish list: a good location, the right amount of space, and - for many of us - a dedicated parking space.

“With 50 million drivers across the UK, a parking space is a necessity for many homeowners. So much so that having parking listed with your property could increase the value by more than 50 per cent in some locations.”

Of the 128,310 properties for sale on Rightmove at the time of the study (April 30, 2024), 79,814 had parking listed as a feature.

Sheehan said: “Of all the properties listed, 53 per cent had parking of some sort. Being able to park your vehicle near or on your property is a necessity for many drivers. Not only does it mean easy access for luggage and kids, it also helps lower car insurance costs as the threat of vehicle crime is lower.

“With 75 per cent of all adults in the UK holding a full driving licence and only half of all properties offering private parking, we might see more new developments built with parking bays in future.

“From adding private driveways and garages, to wider roads that accommodate curbside parking, there’s clearly a demand for parking options around our homes.”