Homeowners may make almost £10,000 from driveways as airport parking prices rise

Martin Lewis gives key airport parking advice on his money show

With summer around the corner, thousands of Britons are preparing to go on holiday and soak up the sun abroad.

While this gives people the chance to reset and relax for days or weeks at a time, airport parking has become another headache for travellers.

Many airport car parks charge incredibly high amounts for parking, with it sometimes being more expensive than the flight itself.

Even if someone is dropping another person off, they could be facing costs of around £10 for five minutes of stopping.

However, drivers could save money by parking on someone else’s driveway, with homeowners potentially making a second income with a spare space.

Parking spaces which were rented out near airports in Greater London, including Heathrow, Gatwick and London City, brought in over £293,000.

This means that homeowners near the airports between January and December last year could have earned an average of £1,599, according to YourParkingSpace.

Nearly half of the total amount came during the busiest months of the year – June to September – with a combined total of £115,005 earned during that period.

Following this, those in the East of England, serving Luton and Stansted airports, earned almost £80,000 or £3,015 per space.

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The South West of England was the most beneficial for individual homeowners, with the potential annual average per space coming in at £9,905.

Those living near Bristol, Gloucestershire and Cornwall airports combined for a total revenue of £25,722.

Brannan Coady, CEO of YourParkingSpace, warned that many airports would be looking to increase the price of their parking facilities and urged drivers to save money where possible.

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He said: “Last year we saw more Brits looking to get abroad following successive years of lengthy and serious travel disruptions.  

“At the same time, we saw prices starting to rise across many on-site airport car parking sites, and this was when more holiday-goers started to shop around and realise there were savings out there. 

“By being able to offer cheaper alternatives, space owners are able to offer competitive rates to those out there who are seeking a deal, but also make some extra money themselves at the same time.” 

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