Empty Driveways Making a Profit

Empty Driveways Making a Profit

by Henry Floyd |
posted 29 May 2017

It seems that in today’s busy world, your empty driveway can now be a great source of income to homeowners.

According to the latest research by online parking marketplace YourParkingSpace.co.uk, 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.

Of course, it is driveways in London that made the most money, earning their owners on average a nice little earner of £2,303 per year, which is up six percent from the previous year. It was the borough of Kensington and Chelsea topped the list within London with its residents earning £3,367 on average through YourParkingSpace.co.uk.

Said Harrison Woods, managing director of YourParkingSpace.co.uk, said, “These results demonstrate that there are potentially very lucrative money earning opportunities across the UK from renting a driveway, garage or secure parking space.”

However, the latest research also reveals that shrewd driveway owners away from London are also making significant amounts. Brighton came second in the list with an average of £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.

There were 28 towns and cities across the UK where driveways earned their owners more than the £1,000 average annual mark and even the lowest earner, Bolton still brought in an average of £816 per year.

It’s not just homeowners that are making a profit, as Woods points out. “An increasing number of businesses with spare parking capacity are also registering on YourParkingSpace.co.uk. It’s very simple to do and unlocks a potentially significant revenue stream, in many cases just by being close to local amenities.” To learn more about renting your driveway, garage or secure parking space visit www.yourparkingspace.co.uk

Henry Floyd
Henry Floyd

Henry looks after all the social media output at Money4yourMotors and with all our different channels he is certainly kept busy, but with his passion and expertise for digital marketing it is a role he thoroughly enjoys.