Rising UK rents are forcing many households to live in smaller houses or in multigenerational homes. Lack of storage space in small homes is causing a surge in demand for storage facilities.
According to data from HomeLet, rents have risen by around 4.3%, and the available rental homes in the UK have decreased by 10%. This has made it more difficult for growing families to move to larger properties. A storage facility provider explained:
“With rental prices rising faster than wages, many people are finding themselves staying put in smaller homes and needing to make the most of every square metre. That’s where self-storage comes in.”
Young adults are delaying moving out of homes where they live with their parents due to high rents, rising house prices and the cost of living. If there is a lack of loft, garage, or garden space for the household to store all of their possessions, they can instead choose to use storage facilities.
The UK Self Storage Association reports that there is over 60 million square feet of storage space in the UK, an increase of 8.1% compared to a year ago. Demand has risen for storage, especially in urban areas, where property sizes are smaller but there is generally enough storage space available in most areas to cope with the demand.
For those needing storage in the Liverpool area, contact us at Merseyside Movers & Storers. We provide secure and flexible storage solutions. Leave your items with us for safe and secure storage.
