Residents Could Earn Over £100 a Month From Their Driveway
Spaces being rented out for parking in Putney and across Wandsworth
Off street parking. Picture: Google Streetview
A survey undertaken by a company that enables residents to rent out their driveway, or other parking space, claims to show that revenue of over a £100 a month could be obtained by residents in the borough.
It is also anticipated that revenue from this source could increase significantly for parking spaces outside the South Circular when the Ultra Low Emission Zone (ULEZ) is introduced in Wandsworth in 2021.
The report by YourParkingSpace.co.uk shows that empty driveways, garages and secure parking spaces made more than £1,000 for their owners in 30 boroughs across the capital over the last year, with Kensington and Chelsea taking the top spot with an average of £3,719 per year. It was closely followed by Camden and Westminster where residents in each borough are also earning sums of more than £3,000 per year on average. Wandsworth came within the top ten areas with a reported annual income of £1,673.
London boroughs (average earnings with YourParkingSpace.co.uk)
Borough |
Monthly |
Annual |
Kensington and Chelsea |
£309.93 |
£3,719.12 |
Camden |
£301.12 |
£3,613.44 |
Westminster |
£271.95 |
£3,263.39 |
Islington |
£214.50 |
£2,574.03 |
Hammersmith and Fulham |
£203.89 |
£2,446.69 |
Richmond Upon Thames |
£191.90 |
£2,302.77 |
Tower Hamlets |
£162.74 |
£1,952.87 |
Merton |
£139.96 |
£1,679.46 |
Wandsworth |
£139.48 |
£1,673.78 |
Brent |
£137.16 |
£1,645.98 |
Lewisham |
£136.23 |
£1,634.76 |
Southwark |
£134.45 |
£1,613.41 |
Greenwich |
£132.01 |
£1,584.08 |
Haringey |
£128.35 |
£1,540.15 |
Croydon |
£124.11 |
£1,489.31 |
Sutton |
£123.69 |
£1,484.24 |
Waltham Forest |
£121.40 |
£1,456.74 |
Hackney |
£120.42 |
£1,445.07 |
Lambeth |
£120.03 |
£1,440.31 |
Ealing |
£119.50 |
£1,434.01 |
Redbridge |
£115.76 |
£1,389.16 |
Harrow |
£114.91 |
£1,378.87 |
Newham |
£114.72 |
£1,376.60 |
Bromley |
£114.15 |
£1,369.80 |
Kingston Upon Thames |
£107.60 |
£1,291.16 |
Barking and Dagenham |
£101.24 |
£1,214.82 |
Barnet |
£94.36 |
£1,132.34 |
Hounslow |
£89.02 |
£1,068.29 |
Bexley |
£88.51 |
£1,062.14 |
Enfield |
£84.60 |
£1,015.14 |
Havering |
£79.53 |
£954.41 |
Hillingdon |
£73.50 |
£882.01 |
Harrison Woods, managing director at YourParkingSpace.co.uk, said: “Renting out a driveway provides a steady stream of additional income for thousands of Londoners.
“It's also very encouraging to see that driveways and empty parking spaces in the lowest placed borough in our London driveway league table, Hillingdon, can still make more than £800 for their owners, showing that there is always a demand for this parking service.”
Driveways and empty spaces close to local amenities, train stations, music venue and sports stadiums are in particular demand.
However, local concerns are already being raised that by paving over front gardens to allow cars to be parked off street - either to to avoid increasing resident parking charges or to be rented out - may have a negative effect on the environment. Our sister site putneysw15.com has reported a mixed response to the rented parking scheme.
If you have a view on this, why not comment on the wandsworthsw18.com forum
June 14, 2019