Drive up your annual income by hundreds of pounds

Thursday, 11th June 2020, 4:27 pm
Updated Thursday, 11th June 2020, 4:27 pm
Photo by Shutterstock
Photo by Shutterstock

Fancy boosting your household income by hundreds of pounds a year?

If you have a driveway and don’t use it, you could rent out the empty space as a parking place and watch the money roll in.

New research highlights that households are earning more than £1,000 per year on average in 25 UK towns and cities by renting out their driveways, when not being used, to other motorists needing somewhere to park.

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Researchers found that out of more than 350,000 parking spaces on driveways across the UK, Londoners were making the most with £2,100 per year on average, while people living in Brighton and Edinburgh are earning £1,944 and £1,896 respectively.

Significantly though, residents in 25 towns and cities across the UK, stretching from Aberdeen to Belfast to Bournemouth, are making more than £1,000 per year on average offering their unoccupied driveways to motorists searching for a pre-booked parking space.

The top ten places to benefit from using empty driveways as parking spaces and how much householders get in return annually for doing so are:

London - £2,100Brighton - £1,944Edinburgh - £1,896Bristol - £1,716Oxford - £1,656Cambridge - £1,596Reading - £1,464Leeds - £1,452Manchester - £1,440Liverpool - £1,380

Meanwhile, the league table shows that empty driveways in towns and cities further down the listing are still making a tidy sum.

For instance, residents in Wigan in 50th spot can still make almost £650 per year on average from their driveway.

Harrison Woods, managing director of YourParkingSpace.co.uk, the company that commissioned the research, said: “With lockdown restrictions being eased and more people returning to their workplace, plus being advised by the government to avoid public transport if possible, we expect a new surge in demand for empty driveways as motorists struggle to find places to park near their places of employment.”

(photo: Shutterstock)