Homeowners made £26 million in 2021 renting out empty driveways

• Money made…empty driveways prove a lucrative income stream

• Londoners sit at the top of the money tree, as takings in the capital surged past the £11 million mark last year

• Driveway demand…even more growth is expected in 2022 as workers head back to the office and the population enjoys post-lockdown freedoms

Astute homeowners laughed their way to the bank with a total of £26 million in 2021, simply by renting their driveways and empty spaces to motorists via YourParkingSpace.co.uk.

This figure represents a record year for driveway income, soaring past the £21 million made in 2020 and the £24 million generated in 2019, while surpassing the 2018 and 2017 figures of £15 million and £12 million respectively.

Harrison Woods, CEO at YourParkingSpace.co.uk, commented: “Shrewd homeowners across the country are reaping the financial rewards of renting out their empty driveways to motorists looking for somewhere to park.

“In particular, driveways close to busy locations such as airports, train stations and office spaces can be a serious money spinner for those looking to kick their financial worries to the kerb.”

And perhaps unsurprisingly, it is Londoners who have benefited the most from the parking boom, as they alone took home £11 million last year.

However, Harrison added it’s not just residents of the capital who have cashed in on renting out their driveway: “Driveway rental income is strong across all parts of the UK, with the top earning locations spread across the country.”

What’s more, with the ending of lockdown restrictions, homeowners have even more reason to expect a further increase in their takings in 2022.

Harrison concluded: “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.”

For more information about YourParkingSpace.co.uk, and to list your empty driveway or space, visit www.yourparkingspace.co.uk. 

Top earning cities 2021