According to a recent report by Cushman & Wakefield and the Self Storage Association, the UK is now officially a nation of self storers. Not only do UK residents rent four times more storage space than French residents and ten times more storage space than German residents, the UK is also now home to 50% of all the self storage space in the whole of Europe.
But why is the self storage industry seeing such huge growth? We delve into the report to find out what’s behind the rocketing popularity of self storage.
When do people use self storage?
For the first time ever, the Annual Industry Report includes a survey of over 2,000 self storage customers, giving us unprecedented insight into the main reasons why people are using self storage.
The clear frontrunner was a lack of space, with 51% of respondents saying they were storing possessions to give themselves more room at home, often due to new arrivals or older children moving back home from university. Almost a quarter (22.5%) of customers cited a transitional period in their lives as a reason for using storage temporarily, either while they were in the middle of purchasing a new property, moving jobs, or moving from a rental property into a permanent home.
The age statistics mirror these reasons, with 65% of the customers surveyed aged between 40 and 65, and 81% of customers aged between 35 and 70. This reflects the later stage at which today’s adults are moving from rental properties into their first homes, as well as the ages at which people are getting divorced; couples going through a divorce are twice as likely to use storage as anyone else.
Lastly, the increasing amount of companies using self storage could be a big factor behind the surge in industry growth. In 2016, 10,000 companies were reportedly launched in UK self storage units, with other businesses using self storage as a more cost-effective alternative to renting extra office space.
What are the benefits of self storage?
So, why are these people turning to self storage rather than keeping belongings at home or in sheds? Here are just a few of the benefits of self storage:
- Clutter Clearance – You don’t need to have a baby on the way or a child returning home to want to enjoy a bit more space in your home. The popularity of Scandinavian living has introduced us to the de-stressing benefits of minimalist decor, and lots of people are turning to self storage to clear some clutter and create a cleaner and more stress-free environment at home.
- Business Solutions – Office space is at a premium these days, with rental costs getting higher and higher. Self storage can be a much more cost-effective option for businesses that need to store archived paperwork, extra stock or equipment. It also works well for home-based businesses that don’t necessarily require a full office setup, but equally can’t store all their stock at home.
- Safe and Secure – Does your shed come with 24-hour security and CCTV? We didn’t think so! One of the benefits of self storage is that it’s one of the most secure ways to keep your belongings safe – especially if you’re storing valuable items like infrequently used equipment or family heirlooms.
- A Flexible Buffer – As mentioned above, many self storage customers are at a transitional period in their lives as they wait to move into a new home, go travelling or get onto the property ladder – processes that can often involve unpredictable schedules. One of the major benefits of self storage is that it’s completely flexible, giving you unlimited access to store or retrieve your goods as and when that contract completes or you finally save up for that round-the-world ticket.
- Affordable Alternative – Last but not least, not only is self storage flexible, it’s also much more affordable than building a new extension on your house to store your things or renting out an entire office that you don’t need. Here at TFM, for example, an 80ft2 container costs just £2/day while a 160ft2 container costs just £2.90/day. With unlimited access and 24 hour security, self storage gives you a lot for your money.
If you want to find out more about self storage in Essex, get in touch with us today. Then, simply sit back and relax as our professional team collects and transports your belongings or stock to our secure storage facility.