Homeowners counting the cost of Christmas and trying to find some extra money to pay off the festive fun could have the answer right outside their front door.
That’s according to YourParkingSpace, who has calculated that the average UK household could pay back the reported £477* spent at supermarkets during the festive period by the middle of spring if they actively rent out their driveway.
With January representing a time when many Brits tighten up their own purse strings to make up for the cost of Christmas, the simple rental trick could also mean they earn enough money for next winter’s festivities by the summer.
The popular parking platform also revealed the potential income for a range of UK cities where homeowners could be primed for a potential bumper payday in 2024**. Between December 2022 and November 2023, homeowners in London registered on the site earned an average of £1,986 per parking space. Manchester (£1,705) and Southampton (£1,596) were other examples in the UK that demonstrated UK space owners’ earning potential.
Meanwhile, in the Welsh capital, Cardiff, homeowners could earn £1,539. Further north across the border in Scotland, space owners in Glasgow could also bring in £1,294.
Brannan Coady, CEO of YourParkingSpace said: “Most of the UK love to loosen up a bit during Christmas, and this year was no exception.
“However, January always brings with it a more sober tone with many people trying to figure out how they can make some extra money to recoup what they spent.
“Thankfully, our research demonstrates that if you live in a location where parking is in high demand, such as near a train station or entertainment venue, then listing your space can be the perfect tonic. You could even save some of it for next Christmas, too.”
If interested in finding out more about the earning potential of your driveway, visit YourParkingSpace.co.uk.