Driveway rentals net homeowners £26m in 2021

Astute homeowners pocketed £26million in 2021 by charging for parking

Driveway

UK homeowners netted £26million in 2021 by renting out their driveways, according to figures from YourParkingSpace.co.uk.

As the table below shows, it’s Londoners who have benefited most from this parking boom, accounting to more than £11million of that impressive total. 

According to the website, which puts drivers in touch with potential parking spaces, the anticipated post-lockdown boom will mean even more opportunities for homeowners to pocket a parking windfall.

“Shrewd homeowners across the country are reaping the financial rewards of renting out their empty driveways to motorists looking for somewhere to park,” says website CEO Harrison Woods. “In particular, driveways close to busy locations such as airports, train stations and office spaces can be a serious moneyspinner.”

It’s not just London where there’s cash to be made though. “Driveway rental income is strong across all parts of the UK, with the top-earning locations spread across the country,” said Woods.

“As the UK returns to business and pleasure as usual, with workers going back to the office and people flocking back to pubs and restaurants, we expect a surge in demand for parking as we continue into 2022.”

City

Earnings (2021)

London

£11,565,297

Manchester

£1,474,753

Bristol

£772,526

Liverpool

£588,884

Birmingham

£561,269

Brighton 

£561,155

Leeds

£424,622

Glasgow

£350,427

Edinburgh

£346,547

Cardiff

£308,712

Check out our handy explainer to where you can and can't park in the UK...

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