Homeowners with unoccupied driveways could be set to benefit from the Government’s planned unlocking of social contact restrictions in England on July 19.
With music and sports venues ready to welcome fans back, homeowners could be down to make additional revenue by renting out their parking spaces to gig-goers and sports fans.
In fact, parking demand is already on the up, with data from Yourparkingspace.co.uk showing that residents in the Wembley area were collectively making close to £6,500 per game by renting their spaces to England football fans during the delayed Euro 2020 competition.
With restrictions in Scotland set to be lifted in early August and those in Wales and Ireland reviewed in July, people across the country could be set to benefit by renting out their spaces.
Harrison Woods, CEO at YourParkingSpace.co.uk, said: “A final unlocking of COVID social contact restrictions will lead to a surge in demand for pre-bookable driveway parking as music and sports venues fill up to pre-pandemic levels.
“It is a great opportunity for homeowners living near these locations to make an additional income by renting out their driveways as parking spaces.”
The online parking portal also found that homeowners with an empty driveway in London and Brighton earned more than £2,000 on average per year by renting out their space, while those people in Edinburgh, Bristol, Leeds, Oxford and Manchester exceeded the £1,500 barrier for parking.
Harrison added: “Many households are feeling a financial squeeze through no fault of their own. Listing an empty driveway might be one way to lessen a monetary burden.”