It is only 16ft by 8ft and has no windows or central heating, but this little piece of hot property will set you back £18,000.

Once considered somewhere to stash overflow junk from the house, spare parts and perhaps a car, a lock-up garage now sparks a scramble from desperate bidders whenever one goes on the market.

The garage on offer is among a handful on sale in Brighton and Hove, with some almost reaching a £20,000 price tag.

Garages are becoming so sought-after in Brighton and Hove that their prices are soaring.

The scarcity of street spaces and the sheer number of motorists has sent the value of secure, guaranteed parking places skyrocketing.

Buyers hunting for a lock-up garage can now expect to pay anywhere from £10,000 for a property outside city parking zones to more than £18,000 for one within the restricted areas.

The cost is equivalent to paying for an annual £80 resident's parking permit for the next 225 years - with the advantage that the value of the property will probably increase.

Estate agent Russell Powis, manager of Bradford and Bingley Geering and Colyer in Church Road, Hove, said garages had always been sought-after but parking problems could be helping to push up their price.

He said once someone bought a garage they were reluctant to let it go.

He said: "I know of one parking space which was sold at auction for £2,500 in Hove, and that was north of the railway line and way out of the restricted parking zone.

"That was just for a space in an open car park - not even a garage - but the buyers just wanted somewhere to park the car."

Mr Powis's branch office has one lock-up garage on the market for £10,000 in Hove.

He said: "We had a lot of interest in the garage and we could have sold it several times over.

"There are very few garages on the market in Hove. People who do not have a garage attached to their property look out for them, particularly for those which come on the market outside their flats or within walking distance.

"They do not go up for sale very often and I can't remember the last time I sold one."

Another estate agent, Charlotte, at Your Move in Church Road, Hove, said: "Garages have always been pretty popular in Hove. I'm not sure the problems with parking will have made that much of a difference. There a just so few on the market.

"There is no doubt the prices of garages have risen over the years but that is the same for all types of property.

"You don't have to look for a parking space if you own a garage and you get back some of the cost by not paying monthly parking charges."

The agents had 16 garages on sale at about £18,000 in a central location in Hove and six were snapped up almost immediately.