The 2017 Budget offered little respite for pensioners facing the squeeze from creeping inflation but those with an empty driveway are being offered a financial lifeline by YourParlingSpace.co.uk.
Indeed, pensioners can be the worst hit as inflation rises because their pension is often a ‘fixed income’, meaning that as prices go up their assets erode.
However, households at almost 30 cities and towns across the UK are earning on average £1,000 a year when listing their empty driveways on online parking portal YourParkingSpace.co.uk to people looking for parking spaces.
And with almost 13 million people in the UK at state pension age or older, then that’s a lot of empty driveways that could be earning for their owners.
Those living in town or city locations where parking is expensive or not easy to find or close to railway stations and airports are most likely to find takers.
YourParkingSpace.co.uk currently has just over 2,200 space owners registered in Wales.
On average, people registered with YourParkingSpace.co.uk in Cardiff make £104.24 per month. In Swansea it is £101.52 per month.