London has world's costliest parking

LONDON, July 19 (UPI) -- Bring plenty of sterling if you plan to drive your car into central London -- a survey indicates it's the most expensive place in the world to park.

Commercial real estate firm Colliers International says its survey has found that parking in the financial heart of the City of London averages $1,167 per month and $68 per day, both deemed the highest in the world, the Financial Times reported Saturday.

Although Colliers found parking was expensive in many world financial centers, London easily outpaced competitors such as New York's Midtown area ($585 per month) and Tokyo ($552). In fact, after the central City, the second-costliest parking area was also in London, the West End ($1,136 per month).

Thanks to the country's booming economy, several Australian cities ranked right behind London in parking costs. Sydney was the third-most expensive city on a monthly basis ($775), while Brisbane and Perth also made the top ten list, the Times said.