Homeowners cash in on driveway charges

Homeowners in almost 30 towns and cities across the UK made an average of more than £1,000 per year from renting their empty driveway, according to the latest research by online parking marketplace YourParkingSpace.co.uk

Unsurprisingly, driveways in London netted the most money, earning their owners on average a very tidy £2,303 per year. This is up six per cent on the previous year, reflecting a growing demand for the service and increased awareness among homeowners of the money earning potential by renting out their driveway, garage or secure parking.

The borough of Kensington and Chelsea topped the list within London with its residents earning £3,367 on average through YourParkingSpace.co.uk.

However, the latest research also reveals that savvy driveway owners away from the capital are also making significant amounts.

Brighton came second in the list with homeowners renting their driveway on YourParkingSpace.co.uk earning on average £1,761 per year, while the northern cities of Leeds and Manchester also finished in the top five earning £1,544 and £1,476 respectively.