London parking: Residents making thousands by renting drives

Home owners in London can make thousands a year by renting out their driveways, it has been revealed.

YourParkingSpace.co.uk has revealed residents in the city make £2,212 a year by letting others use their parking areas.

YourParkingSpace.co.uk also says demand for parking on rented driveways remains strong across all parts of the UK despite unprecedented times.

The latest analysis by online parking platform YourParkingSpace.co.uk reveals that homeowners across the country are making more than £500 per year on average from driveway rental, with many making significantly more.

Towards the top of the driveway money-making scale include homeowners in London, Edinburgh, Bristol, Leeds, Manchester, Cardiff and Birmingham, who are earning more than £1,000 per year on average from their empty space.

Those a little further down the money-making scale include residents of Swindon, Salford, Dudley and Gloucester, where an average annual additional income of more than £750 is being achieved from offering a driveway to rent.

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Meanwhile, homeowners, including those in Dundee, Oldham, Newport and Sunderland are still making more than £600 per year on average from their empty space – once again highlighting the wide spread of towns and cities where rented driveway income is proving to be a valuable opportunity.

Harrison Woods, chief executive of YourParkingSpace.co.uk, said: “It is very encouraging to see that homeowners across the UK are able to make significant sums by renting out their driveways to motorists needing somewhere to park.

“If an empty driveway, garage or off-street residential parking space is near a sport or music venue, close to the shops or to nearby public transport, then there will particularly strong demand for bookings no matter which town or city it is located in.”

Harrow Times | Local News