Motorists across the country are losing on average 44 hours a year just looking for a parking spot, according to new research.
The report by traffic data company Inrix found drivers were also wasting £733 annually based on value of time spent, fuel costs, parking fines and overpayments.
For those in London, the average time lost rose to 67 hours, with costs skyrocketing to £1,104.
Of 7,035 drivers quizzed, as many as 71 per cent felt there was not enough parking available across the country, with two-fifths avoiding trips to locals shop simply because of parking problems.
— INRIX ® (@INRIX) July 12, 2017
In total, Inrix says more than £30 billion is contributed to the UK by tickets plus overpaying for time parked.
As well as financially burdening drivers, many also said parking affected their stress levels, with 64 per cent saying they felt stressed out by parking and even 16 per cent admitted to getting into arguments over finding spaces.
Professor Graham Cookson, chief economist at Inrix, said: “To lessen the significant burden parking pain has on our economy and lives, smart parking solutions are available for drivers, parking operators and cities to help reduce search times, congestion and pollution as well as negate overpaying and fines altogether. Still, more needs to be done to drive adoption. Parking pain will only get worse until technology is fully embraced.”