HOMEOWNERS with a spare driveway could be missing out on £2,000 a year.

With demand for parking high across the city, analysis by online parking platform YourParkingSpace.co.uk found that Brighton and Hove residents earn an average of £2,059 a year from renting out their driveway.

The city’s earnings from rented parking spaces were the highest in the UK outside London, with homeowners in London earning just over £2,200 a year on letting out their driveways to commuters and visitors.

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Also featured in the top five were Edinburgh, Bristol and Leeds, with earnings per year of £1,941, £1,632 and £1,584 respectively.

The news comes despite large numbers of people continuing to work from home amid the ongoing coronavirus pandemic.

Harrison Woods, chief executive of YourParkingSpace.co.uk, said: “It is very encouraging to see that homeowners across the UK are able to make significant sums by renting out their driveways to motorists needing somewhere to park.

“If an empty driveway, garage or off-street residential parking space is near a sport or music venue, close to the shops or to nearby public transport, then there will be particularly strong demand for bookings no matter which town or city it is located in.”

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Full list of top ten cities for annual earnings from rented driveways

  1. London - £2,212
  2. Brighton - £2,059
  3. Edinburgh - £1,941
  4. Bristol - £1,632
  5. Leeds - £1,584
  6. Oxford - £1,528
  7. Manchester - £1,503
  8. Cambridge - £1,358
  9. Birmingham - £1,341
  10. Reading - £1,311

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