A growing demand for parking spots in the UK’s coastal resorts has opened a niche market for home owners cashing in on the use of their driveways to rent.
According to specialist website, YourParkingSpace.com, the demand for rented driveways has increased by 375 per cent in some areas of the country, with staycation holidays during the pandemic proving more popular than ever.
According to the report, some homeowners are making £150 a month, renting out their unused driveway space, with even higher premiums in some of the more popular resorts.
Driveway rental has seen a growing demand in recent years, with dedicated websites making it easier for those in prime locations to cash in on their real estate. Those living close to major attractions and football grounds can make the most of their drive, making it sometimes easier and cheaper for drivers to park-up.
“We’re seeing a massive increase in rented driveway bookings in seaside towns as Brits return to the coast following a relaxation in lockdown rules,” said managing director Harrison Woods.
“Our research shows that Southend-on-Sea has enjoyed a massive 375% increase in rented driveway bookings post-lockdown, the highest by some way. I would expect demand here to only increase in August throughout the summer holidays, and at other seaside resorts, with many people preferring a staycation.”
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Top 10 seaside resorts for rented driveway parking |
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Southend-on-Sea |
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Percentage increase in rented driveway bookings with YourParkingSpace.co.uk since lockdown restrictions lifted |
375% |
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Average monthly driveway earnings |
£75 |
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Brighton |
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Percentage increase in rented driveway bookings with YourParkingSpace.co.uk since lockdown restrictions lifted |
340% |
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Average monthly driveway earnings |
£162 |
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Weymouth |
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Percentage increase in rented driveway bookings with YourParkingSpace.co.uk since lockdown restrictions lifted |
320% |
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Average monthly driveway earnings |
£57 |
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St Ives |
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Percentage increase in rented driveway bookings with YourParkingSpace.co.uk since lockdown restrictions lifted |
310% |
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Average monthly driveway earnings |
£70 |
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Great Yarmouth |
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Percentage increase in rented driveway bookings with YourParkingSpace.co.uk since lockdown restrictions lifted |
285% |
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Average monthly driveway earnings |
£53 |
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Worthing |
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Percentage increase in rented driveway bookings with YourParkingSpace.co.uk since lockdown restrictions lifted |
280% |
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Average monthly driveway earnings |
£78 |
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Margate |
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Percentage increase in rented driveway bookings with YourParkingSpace.co.uk since lockdown restrictions lifted |
250% |
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Average monthly driveway earnings |
£70 |
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Blackpool |
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Percentage increase in rented driveway bookings with YourParkingSpace.co.uk since lockdown restrictions lifted |
230% |
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Average monthly driveway earnings |
£72 |
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Bournemouth |
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Percentage increase in rented driveway bookings with YourParkingSpace.co.uk since lockdown restrictions lifted |
220% |
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Average monthly driveway earnings |
£92 |
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Hastings |
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Percentage increase in rented driveway bookings with YourParkingSpace.co.uk since lockdown restrictions lifted |
175% |
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Average monthly driveway earnings |
£48 |
Data: YourParkingSpace.com