A Melbourne council installed CCTV cameras to stop parking meters being vandalised - but vandals have stolen the cameras.

The Maribyrnong City Council put in the five CCTV cameras after local traders refused to give up footage of new parking meters being vandalised.

But on Saturday the cameras, which were installed to monitor the vandalism, were stolen from the street, community group Yarraville Village Says No to Paid Parking says.

The group say they are not behind the vandalism or camera thefts, and have condemned the person responsible.

Parking meters were installed by the council last month, which has angered local traders who say paid parking will kill the shopping strip.

The meters have been smashed up three times and slugged rate payers more than $20,000 in repair costs.