London, Leeds and Bristol top table of driveway rental earnings

PUBLISHED: 13:10 12 May 2016 | UPDATED: 13:10 12 May 2016

House, driveway, two cars

House, driveway, two cars

Archant

Enterprising homeowners in London, Leeds and Bristol have topped a table of earnings from simply renting out their driveways as public parking spaces.

Residents in the English capital who use YourParkingSpace.co.uk are earning an average of £2,172 per year, says the firm. Houses close to train stations and zones where parking is normally restricted are the most popular, with earning potential peaking at £4,371 per year in the London borough of Westminster.

Average earnings in Leeds are £1,762, while Bristol, whose recent furore over controversial residents’ parking zones cost the elected mayor his job, sits in third with £1,711.

Harrison Woods, managing director of YourParkingSpace.co.uk, said: “Renting a driveway, garage or secure parking space is an easy, simple and potentially lucrative way for homeowners and businesses to earn some extra income.

“If your home is near to local amenities such as a train station or sporting venue, it certainly boosts the earning potential of a parking space, but as our analysis shows, it’s possible to earn a significant amount in all parts of the UK.”

Manchester, Cardiff, Leicester, Edinburgh and Gloucester all break the £1,000 barrier, while the top 50 is rounded out by Wakefield. Average earnings are £727 per year at the small northern city.

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