No photo available of petermunroe

petermunro...

London - s106 Parking Restriction

How much does an s106 parking restriction affect the value of a property in Zone 2 London? Say you take two identical flats, one without an s106 parking restriction is valued at £300k. What is the other likely to be valued at?

Asked on Jun 26 2011, House Prices in London | Report content

Answer this question

Answers (2)

Was this question useful? Yes 2 No 1

Sort by: Oldest | Recent | Highest rated

  • Photo of Jonathan Rolande

    Jonathan R...

    Parking Restriction 106 applies to people who work in the area and need to park. It is a completely different charge for a residents permit of which anyone who lives in the area can apply so difference in price of the flat is nil. If the flat had parking off road that would be a different matter.

    Answered on Jun 28 2011, Report content
    Was this answer helpful? Yes 1 No 2
  • No photo available of jsincla

    jsincla

    Actually the first answer isn't right at all. A section 106 planning agreement (which in your description might means some flats in a new building will not be entitled to apply for a residents permit) will have an impact on the pricing. However, I would imagine so few residential conveyancing solicitors would even spot it (i.e. get and read the original planning permission), that I would market it as if it had such permission and be prepared to negotiate further down the line.

    Answered on Jul 6 2011, Report content
    Was this answer helpful? Yes 0 No 1

Didn't find what you were looking for? Ask a question

More House Prices in London questions on AskMe

See more AskMe Q&A about House Prices