Havering ranked one of the cheapest places for residents to park in London

Car parking

Havering has been ranked one of the cheapest places to get a resident's permit in London. - Credit: Getty Images/iStockphoto

Havering is one of the cheapest boroughs to get a resident's parking permit in London, according to new research.

Costing an average of just £35 per year for a parking permit, Havering residents save £1,385 each year compared to the most expensive borough.

However, people wanting to purchase a second permit in Havering have to pay £60, and £85 for a third.

The new research from Comparethemarket found drivers living in the City of London pay the most, spending £1,420 on average every year, followed by Camden, where permits cost £258 on average.

The only boroughs that are cheaper than Havering are neighbouring Redbridge, where a resident's permit averages at £20, and Hillingdon, which gives residents free parking for their first vehicle.

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Across the country, Manchester is the most expensive place for a parking permit, where it costs £538 on average per year.

This beats London, which ranked sixth in the research, at £120.

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Three cities in the UK offer free residential parking for their residents – Leeds, Liverpool and Nottingham.

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