Storage Facilities Benefit From Stall In Housing Market
Monday, 10th August 2009
While the housing market remains fairly stagnant many people are looking towards storage in London and Essex until prices and sales pick up. Homeowners wanting to sell their houses and cash in by downsizing are putting their possessions into self storage and letting out their houses, renting smaller properties themselves until such time as the market improves. Similarly families increasing in number and needing larger houses, but finding themselves unable to sell, are emptying out those items cluttering up spare rooms into self storage units.
Another option many are taking during the housing slump is to take advantage of the cheap prices DIY stores and builders merchants are offering by converting garages or lofts into extra bedrooms. The items usually stored in these garages and lofts are again being transferred to their local storage company premises freeing up valuable space. Once the market picks up the added value of these improvements can be realised.
The rental market has seen an improvement during the downturn too, with mortgages harder and harder to come by and the lack of property for sale, renting is often the answer. This also benefits storage companies in London and Essex as some homeowners with extra rooms are now emptying anything that was normally kept inside into self storage units.