A double garage located beneath a block of flats in Clapham Common, south-west London, has recently been put on the market with a staggering asking price of £150,000.
This figure eclipses the pricing of average homes in more affordable parts of the UK, such as Shildon near Durham, where entire houses are sold for a fraction of this cost.
The listing by Noble Estates promotes the property as a ‘large double garage’ and a ‘rare opportunity’, with capacity to park two to three vehicles, situated in a prime spot close to the shops, wine bars, and restaurants of Clapham Old Town.
The estate agent clarifies that the property is leasehold with no ground rent or service charge obligations.
Would you pay £150,000 for a garage in Clapham?
-
Yes
-
No
According to MyLondon, a Noble Estates spokesperson said: ‘We have sold over 20 garages over the last 18 months. Demand in SW4/11 is strong. Space is always a premium in London, which people are prepared to pay for.’
But the £150,000 price tag for a garage space stands in sharp contrast to the housing costs typical of towns in the north-east of England.
For example, in Shildon, County Durham, the average house price for a terraced property sits at £71,101, according to Rightmove, with semi-detached properties fetching £104,594 and detached properties an average of £208,824.
But a browse of recently sold listings shows that properties often sell for less than these figures, with one two-bed terraced property in the area selling for £50,000 in May this year — exactly three times cheaper than the Clapham garage.
County Durham’s wider average house price hovers around £140,000 as of mid-2025, according to ONS data, with flats and maisonettes priced significantly lower than detached houses and first-time buyers paying an average of £125,000.
These figures emphasise the relatively affordable nature of the regional housing market compared to London’s inflated valuations.
By comparison, the London-based garage’s value echoes the premium placed on any secure space within the capital, where property is at a premium due to scarcity and high demand.
It mirrors a wider trend in the capital, where the scarcity of urban space means that parking spots, garage units, and even private driveways are commanding prices that would ordinarily purchase entire properties in less expensive regions.
For example, in Wimbledon, a single driveway parking space was recently listed for £22,500.
Although significantly lower than the Clapham garage, this amount still demonstrates the high valuation of parking in London.
The Wimbledon space is uniquely placed near the mainline station and the town centre, rendering it highly desirable in an area where average property values reach approximately £838,429, according to Rightmove.
Some may argue the parking spot’s value is further justified when considering local hourly and annual parking charges (which sit at £11.80 for two hours in the train station car park) and the income potential for residents from rentals, particularly during major events like the Wimbledon tennis tournament.
In fact, the Standard previously spoke to one Wimbledon resident who made between £1,400 and £1,600 each year from renting out her parking space.
Such properties illustrate the premium on space and the evolving dynamics of urban living, where homeowners and investors alike can capitalise on scarce resources amid soaring demand.
Do you have a story to share?
Get in touch by emailing MetroLifestyleTeam@Metro.co.uk.