Short answer
Car spaces and storage areas can affect the market value of a strata property, but their contribution depends on the property, title, location, usability and market evidence.
A secure basement car space in a parking-constrained area may have a different market impact from an open space in a complex where parking is common.
The valuer needs to understand what is included with the lot and how the market responds to similar car and storage arrangements.
Why this matters
Car accommodation and storage can be important value drivers for units, apartments and townhouses.
Buyers may place significant weight on secure parking, extra storage, lift access, visitor parking, tandem spaces, side-by-side spaces, electric vehicle access or proximity to the dwelling.
The value impact is market-specific and should be supported by comparable evidence where possible.
What the valuer considers
The valuer may consider:
- Whether the car space or storage area is on title
- Whether the area is exclusive use, licensed or common property
- Number of car spaces
- Security and accessibility
- Basement, garage, carport or open-space arrangement
- Tandem, side-by-side or stacker arrangement
- Storage cage size and usability
- Proximity to lifts or the unit
- Visitor parking and street parking availability
- Comparable sales with similar parking and storage
The valuation treatment depends on the title, evidence and instructions.
Title and ownership issues
A car space or storage area may be part of the lot, common property, an exclusive use area, a licence or another arrangement.
The valuer should not assume ownership without checking available title or plan information where it is material.
If the legal status is unclear, the report may need to state assumptions or the client may need legal or strata advice.
How sales evidence is analysed
The valuer may compare sales with and without car spaces or storage, where sufficient evidence exists.
In some markets, the difference can be significant. In other markets, the contribution may be modest if parking is common or buyer demand is weaker.
The valuer considers the overall property comparison rather than adding a fixed amount automatically.
Common misunderstandings
A car space does not have the same value in every complex.
Demand, location, title and scarcity matter.
Storage is not automatically a separate value item.
It may be considered as part of the overall market appeal.
Exclusive use is not the same as freehold ownership.
Legal status should be checked where material.
Tandem spaces may differ from side-by-side spaces.
Usability can affect buyer demand.
Comparable evidence is important.
The valuer should consider how the market responds, not only the physical presence of parking or storage.
Related glossary
- Car Accommodation
- Storage Area
- Common Property
- Exclusive Use
- Unit Plan
- Strata Property
- Comparable Sale
- Market Value
- Assumption
- Limitation
Related articles
- Strata Property Valuations
- What is a strata property valuation?
- Do strata levies affect property value?
- What documents help with a strata valuation?
- How are comparable unit sales analysed?
- What is common property in a valuation?
- What is a strata property valuation?
Related services
Prepared by:
Tigran Amiyants, Certified Practising Valuer (CPV), Managing Director, Northbourne Valuers.
Last reviewed:
July 2026.
General information note:
This page provides general information only and does not constitute valuation, legal, strata, taxation or financial advice. Strata, owners corporation, body corporate and legal matters should be considered with the appropriate qualified adviser. Every valuation depends on the specific property, purpose, valuation date, evidence, assumptions and instructions.