Driveway parking costs up (From Croydon Guardian)

Driveway parking costs up

5:10pm Thursday 18th September 2008

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The cost of a driveway in Croydon has gone up by £168 according to a new London league table.

Parking space website YourParkingSpace.co.uk released annual rankings of all 32 London boroughs by how much commuters will pay every year to rent a driveway.

And while Croydon is 19th in the league, with a cost of £1,044, it shows and increase of £168 in the last 12 months.

Neighbouring borough Sutton was 29th at £705 to rent a driveway.

The City of Westminster has maintained its place as the most expensive borough at £3,632 a year.

The website helps people in major UK cities rent their empty driveways to commuters who are looking for a cheaper place to park. Commuters can search, book and pay online.

Founder Charles Cridland said: "As the credit crunch has bitten commuters are desperate to cut parking costs by renting driveways and home owners are very keen to make money by renting their drive out.

"We've seen significant shifts over the last six months as the extra supply of drives has dropped the price in 14 boroughs, while demand has forced price increases in 17, and one has stayed the same."

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