The UK towns and cities where homeowners are making the most money by renting out their driveways as parking spaces have been revealed by online parking portal YourParkingSpace.co.uk.
Its research found that empty driveways, garages and secure parking spaces made more than £1,000 for their owners in 25 towns and cities across the UK over the last year, with London taking the top spot with an average of £2,254 per year.
The capital was followed by Brighton, Leeds, Bristol and Oxford, where residents are earning sums of more than £1,600 per year on average via the YourParkingSpace app.
Scotland’s two largest cities, Glasgow and Edinburgh, also made an appearance in the top 10, while Belfast and Cardiff took eleventh and fifteenth place.
Unsurprisingly, driveways and empty spaces close to local amenities, train stations, music venues, sports stadiums and airports are in high demand.
“Renting out a driveway provides a steady stream of additional income for thousands of households across the UK,” Harrison Woods, managing director at YourParkingSpace.co.uk, commented.
“It’s very encouraging to see that the top earning towns and cities are spread across the country, offering money making opportunities to countless Brits who own a driveway or empty parking space.”
The YourParkingSpace table lists the top 50 towns and cities for their driveway earnings. Even the bottom five in the table – Kingston upon Hull, Barnsley, Swansea, Wigan and Sunderland – are making more than £700 per year on average.
Woods added: “I would encourage homeowners with an empty driveway to register it for renting as soon as possible and see how much money they can make from it. Indeed, homeowners are making significant sums from a previously overlooked asset right on their doorstep – their driveway. It really is one of the easiest ways to make some extra money.”
For more information about renting out a driveway, garage or secure parking space, visit the YourParkingSpace website.