'Highest earning' postcodes for driveway rentals - is yours on the list?

The UK's highest-earning postcodes for homeowners renting out their to motorists have been announced, with locations near sports stadiums, airports, and major cities topping the rankings.

Newly released data from the online parking platform found that in 2024, residents in the UK's top-earning postcode made a combined total of nearly £500,000 from renting out their driveways. postcodes lead the way, with HA9 in Brent - home to Wembley Stadium - taking the top spot with £484,257 in annual earnings. Andy Syrett, UK managing director at YourParkingSpace, said: "London's size and traffic levels naturally create high demand for driveway parking."

Outside the capital, postcodes near airports and Premier League football grounds also performed strongly.

Topping the list is LU2 near Luton Airport, generating £157,785, followed by L5 in Anfield, home to Liverpool FC, at £147,773. The CM22 postcode next to Stansted Airport also raked in a fortune with £131,461 in earnings, while RH6 near Gatwick Airport earned £123,545.

Andy Syrett, UK managing director at YourParkingSpace, said: "What's also clear is the opportunity for homeowners living near big stadiums and airports. Whether it's fans heading to a match or travellers flying abroad, people want convenient and affordable parking, and homeowners are capitalising on that demand.

"It's a win-win - drivers get a cheaper and easier place to park, and local residents earn passive income with minimal effort."

The study also showed demand in Aldershot, near one of the main commuter railway lines into London.

Mr Syrett added: "In uncertain economic times, additional income from renting out a driveway has obvious financial appeal."

Several apps are available for households to use to rent out their spaces, such as YourParkingSpace, JustPark, and ParkLet.

What are the tax rules for renting out your driveway?

You can earn up to £1,000 a year on the "sharing economy" without paying income tax. This is considered a shared allowance across any other platforms through which you may earn money.

If your earnings exceed this, you'll have to tell HMRC and may have to fill out a self-assessment tax return.