- Savvy consumers in Burntwood, Cannock, Lichfield, Tamworth and surrounding areas, use self storage as stop gap until market picks up.
- Spare rooms used to raise money - £4,500 p.a. average **
Acme Self Store Limited based in Burntwood have noticed that as local house prices continue to fall and selling a house becomes more difficult, people are turning to self storage to store unnecessary items that are cluttering their rooms. This enables them to “stage” their home more favourably to a prospective buyer, placing them in a stronger position to secure a sale over a similarly styled and priced house.
Andrew Dodd, Director of Acme Self Store Limited, comments “self storage is really beginning to take off. The slow-down in the housing market has led consumers to turn to self storage to securely hold their items whilst they are either waiting until the housing market picks up when they are able to take advantage of cheaper house prices, or to put themselves in a better bargaining position by breaking a chain or enabling them to move swiftly.”
These findings are also highlighted in a report from the UK’s Self Storage Association and Intel which shows that during the recent down turn in 2008, the self storage industry remained resilient with the British public spending a record £360 million on self storage in the UK. During the year, the industry also executed its ambitious expansion plans by adding 2m square foot of available space (c 10% growth in space).
Other influencing factors could be attributed to people putting their belongings in storage to allow them to rent out a spare room in their house in an effort to raise some money to help pay the mortgage. An average cost of renting room out in the UK was £375 a month *, generating £4,500 a year which is a significant contribution towards mortgage repayments.
The Mintel report highlights how lifestyle factors, such as when couples move in together, also raises the use of self storage as people store duplicated items. This pattern continues until they can afford to buy or rent a space suitable for their needs.
Andrew Dodd continues; “necessity is the mother of invention and when people’s backs are against the wall at challenging times such as recession, it is amazing how resourceful they can be. Self Storage has clearly become a viable alternative for people looking to most effectively use their space and as such you can see patterns like this begin to emerge.”
Acme Self Store Limited opened in Burntwood in 2002, and has since expanded into two further units located on Ring Road, Zone 3 Burntwood Business Park, Burntwood, Staffs, WS7 3JG, with storage units varying in size from 5m cube lockers to 500 square foot units, rental prices start from £5 per week. All prices quoted include VAT and insurance, with no deposit payable. Acme also offers a wide variety of discounts complimented by a collection / removal service and packaging materials.
For further information telephone 01543 675043 / 01827 210077 or email info@acmeselfstore.co.uk or visit our website www.acmeselfstore.co.uk .
* Figures from www.easyroommate.com
Dept of Communities and Local Government House Price Index: UK Figure1: UK annual house price rates of change (all dwellings). http://www.communities.go.uk/publications/corporate/statistics/hpi052009
