From minimum to maximum: The impact of parking standard reform on residential parking supply in London

This research examines residential parking supply in London before and after the minimum off-street parking standard was replaced by a maximum one in 2004. Based on 11 428 residential developments after and 216 developments before the reform, it is found that parking supply was reduced by approximately 40 per cent. Ninety-eight per cent was caused by the removal of the minimum standard, while only 2 per cent was due the imposition of the maximum standard. However, the parking supply is actually higher in areas with the highest density and the best transit service than in the areas immediately outside; the adopted maximum standard follows a similar pattern. The market-oriented approach to parking regulation can reduce excessive parking, but it depends on the particular sub-markets. Complementary policies such as strict parking maxima, on-street parking controls and parking taxes are often necessary to form an efficient parking market.