ANGRY home owners are set to launch a campaign against a plan to charge households up to £233 for parking outside their own homes.

Redbridge Council have proposed the introduction of annual parking permits throughout Wanstead and Snaresbrook, which would see residents pay £55.75 for one car, £133.75 for two and £233.75 for three vehicles parked on the street.

Residents plan to launch a petition against the plans, which will be considered by councillors in the wards affected on May 16.

Some Wanstead streets like Grosvenor Road currently only have restricted parking between 9.30am and 10.30am on Monday to Friday.

However, the plans would see the restrictions extended from 8am to 6.30pm on weekdays unless home owners buy a permit.

And families will have to pay an additional £5.60 for a book of 10 permits for visitors to use the bays.

Michael Powis, 70, of Grosvenor Road, has vowed to campaign against the proposed charges, saying they will hit the elderly and disabled hardest.

He said: “It’s totally disingenuous and wrong. It’s just another money raising exercise, a backdoor tax.” “This amounts to a tax on having visitors – many residents are on limited incomes or pensions.

“Also, you can only buy five books a year which is only 50 visits. Members of family won’t visit during the week because they don’t want to be charged.”

Neighbour Richard Oakman, 61, will join Mr Powis's campaign and questioned whether people would even get what they pay for.

He said: "Buying a permit doesn't guarantee you a space. The council didn't work out how many spaces there are and how many cars need a space."

Mr Powis said a leading estate agent in Wanstead High Street warned that the permits will cause a £10,000 drop in house prices.

However, a local estate agent said the scheme may represent good news for renters in the area.

Mike Molloy, owner of Martin & Co Wanstead Letting Agents, said: “The parking bays right now are first come first serve.

"A lot of renting couples are happy to pay for a parking permit as they usually have just the one car, so £55 between them for a year isn’t that bad for a guaranteed space.”

The council says the move will prevent Olympics tourists from choking the area in traffic, but have no plans to end the restrictions after the Games.