Parking portal reveals driveway income hotspots
A new league table released by an online parking portal has revealed the regions where shrewd homeowners are making the most money by renting out their empty driveways as parking spaces.
According to booking data from YourParkingSpace.co.uk, London topped the money-making chart as pre-paid bookings on the portal soared past the one-million-pound mark to a massive £1,110,428 in November alone.
The UK’s capital was followed by the Northwest and Southeast of England, where residents made a whopping combined total of £225,143 and £216,523 respectively also in November this year.
However, the regions where homeowners enjoy the fastest rates of growth were the East Midlands, Wales and the Northeast of England, which benefitted from a surge in takings of 106%, 84% and 59% respectively in November, when compared to pre-pandemic figures in February 2020.
Says Harrison Woods, managing director at YourParkingSpace.co.uk:
“Our booking data shows that renting out an empty driveway, garage or secure parking space can be a serious money spinner.
“What’s more, it’s very encouraging to see that the top-earning regions are spread across the UK, offering money making opportunities to countless homeowners who have an empty driveway or parking space.”
This news comes as the cost of living surged 5.1% in the 12 months to November, the highest level since September 2011. Indeed, many householders troubled by financial worries are looking for creative ways to offset the rising cost of living.
For more information about listing a driveway, garage or secure parking space, visit www.yourparkingspace.co.uk.
| Region | Total Earnings
(November 2021) |
Growth (Compared to February 2020) |
| London | £1,110,428 | 49% |
| Northwest (England) | £225,143 | 40% |
| Southeast (England) | £216,523 | 41% |
| Yorkshire and The Humber | £126,993 | 57% |
| East of England | £115,859 | 23% |
| Southwest (England) | £115,217 | 16% |
| West Midlands (England) | £96,093 | 44% |
| Scotland | £84,338 | 45% |
| East Midlands (England) | £73,201 | 106% |
| Wales | £24,668 | 84% |
| Northeast (England) | £17,383 | 59% |
| Northern Ireland | £5,248 | 24% |
