Brits make £24 million in 2019 through rented driveways

By Jack Evans

UK homeowners made £24 million during 2019 by renting out their driveways and empty spaces, new research has revealed.

That figure represents a new record, beating 2018 and 2017’s figures of £15 million and £12 million respectively.

Just under 30,000 individuals and organisations in the UK registered their driveways and empty spaces during 2019, freeing them up to motorists needing somewhere to park.

Harrison Woods, managing director at YourParkingSpace.co.uk, said: “More-and-more home owners are seeing the financial benefits of renting out their empty driveways. Many are making a significant additional income with our figures showing the average annual driveway earning in 25 towns and cities is just over £1,000.

Typical parking hotspots included spaces in cities and town centres, as well as those located near sports stadiums, train stations and airports.

The research was conducted by online parking site Yourparkingspace.com, which also discovered that 78,000 new spaces were registered online during 2019 alone.

Harrison Woods, managing director at YourParkingSpace.co.uk, said: “More-and-more home owners are seeing the financial benefits of renting out their empty driveways. Many are making a significant additional income with our figures showing the average annual driveway earning in 25 towns and cities is just over £1,000.

“2019 has been a record-breaking year and I’ve no doubt that 2020 will be even better as an increasing number of Brits see the financial benefits of utilising an unused asset, their driveway, to make some extra money.