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The Rise of Self Storage in London

By Edited Nov 13, 2013 1 0

These days we're all fairly used to the idea of self storage, and to seeing those large, brightly coloured warehouses dotted around our towns and cities. But if you stop and think about it, it wasn't too long ago that if you'd mentioned the words 'self storage' people would think you were referring to your garage or shed, or perhaps a new wardrobe or chest of drawers. Self storage is big business these days, especially in London, and it looks like we've decided that this is a service that 21st century humankind cannot live without.
So, why has self storage in London prospered so much in recent years?

The Housing Market
If you pay enough attention to the media, you may have heard that we're in the middle of a recession. This has led to a fall in house prices which has in turn led to fewer properties being put up for sale and an increase in the number of people renting property. Currently there is also a large amount of uncertainty in the housing market, leading to a cautious approach from both would-be buyers and sellers. All these factors have led to an increase in the take-up of self storage. Low house prices have led to an increase in gazumping, thereby leaving some people in the unfortunate position of having sold their home but without a new home to move into. Many such people are forced to take self storage so that they can store their furniture whilst they stay with friends or relatives, until they have their own home to move into.
Although property prices have fallen in recent years, property in London is still extremely expensive and many people simply cannot afford a home that is large enough to store all of their belongings.

Overcrowding
One of the most obvious reasons for the success of self storage in recent years is the continued expansion of our major population centres. It's not so much that the population is expanding, more that what population there is is being squeezed into an ever smaller area, and ever smaller accommodation due to high property prices. This is especially true of urban centres such as London.

Minimalism
The minimalist trend in interior design has also had a beneficial impact on the self storage industry. Gone are the days when it was acceptable for homes to be filled with clutter - nik-naks, objets d'art, 30 years worth of annual photos of the extended family, extraneous pieces of furniture, even music and book collections - all need to be hidden out of sight in order for your home to have that modern and stylish minimalist feel. And the easiest way to lose all this clutter without having to sell or dispose of it? Self storage of course!

Internet Businesses
Since the ubiquitisation of the internet, there has been a sea-change in the way that people do business, especially when it comes to high street shopping. Chances are, when you're looking for that next self-indulgent purchase, or looking for christmas presents, you're more likely to do your research and shopping on the internet than popping down to the local high street. The ever-increasing number of internet 'shops' obviously need somewhere to keep stock , somewhere less expensive than renting a commercial property. Self storage maybe?



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