A new emission zone becomes effective in central London in 10 days time and could cost residents who use their car daily over £4,500 a year - and it’s received the blessing of a high end estate agency.
Chestertons has calculated that the Ultra-Low Emission Zone would cost a daily user of a vehicle at least 60 per cent more per year than even the most expensive council tax in central London.
ULEZ takes effect in central London on April 8 and will charge drivers of high emission cars £12.50 per day, equating to £4,562.50 for someone that uses a vehicle in that category every day.
This is substantially more than the council tax bill for residents of properties in even the highest tax band of any of the central London boroughs, warns Chestertons. For example, the current Band H council tax in Westminster is £1,421 per year; Kensington & Chelsea is £2,246.14 and Camden is £2,976.86.
Transport for London says ULEZ is required to help improve air quality in the capital and, despite the possible disincentive to buyers, it’s been supported by Chestertons.
Guy Gittins, managing director of Chestertons, says: “There is no doubt that something absolutely must be done about London’s air quality and ULEZ is a step in the right direction. With the potential costs to drivers being higher than their council tax bill, it will no doubt make people think twice about driving in central London and may even make them question whether they need a car at all.”