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Driveways rented out to commuters for £3,600
Evening Standard17.09.08
Renting out driveways can net Londoners up to £3,632 a year.
Thousands of homeowners are cashing in on the soaring demand for parking spaces from city workers. A year ago, 800 London driveways were being rented by drivers. Today the number has nearly doubled to 1,700, with the amount of inquiries from motorists still rising.
The profits have also risen for homeowners. Last year the rental value of a "top" London driveway - near a railway station and outside the congestion zone - was £3,564. Today, owners of the bestearning driveways are demanding £3,632 a year. Twelve months ago, YourParkingSpace.co.uk - which matches homeowners to drivers - had only 1,000 spaces available in London but 2,600 are now on offer.
Westminster homeowners charge the most at £3,632. The cheapest area is Barking and Dagenham at £516 a year.
