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

Pay and display machines will go cash free next year. Picture Archant.

New research shows Redbridge is one of the cheapest places to park in London - Credit: Archant

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

Costing an average of just £20 per year for a parking permit, Redbridge residents save £1,400 each year compared to the most expensive borough.

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.

The only borough with cheaper parking than Redbridge is Hillingdon, which gives residents free parking for their first vehicle.

Resident drivers in neighbouring Havering pay on average £35 per year and £53 in Barking and Dagenham.

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Nationwide, 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 residents – Leeds, Liverpool and Nottingham.

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