The residents of our tiny island are fighting for space! The UK population has exploded, having grown by a whopping 1.3 million over the last five years. More people mean more stuff and less space, making storage space hot property!
But how much storage space do we need long-term? This article looks at different scenarios of storage needs growth and what is most likely to happen, considering the current residential property market dynamics. While there’s no definitive figure for the "exact" amount, we can make some solid predictions based on what we already know.
As of 2024, the UK has approximately 64 million square feet of self-storage space, according to the Self-Storage Association UK Annual Industry Report 2025. This equates to about 0.92 square feet per person, given a population of roughly 69.5 million. This is significantly lower than countries like the United States (around 7-9 square feet per person) or Australia (over 2 square feet per person), suggesting there’s room for growth in the UK self-storage sector if we follow the same trend as our American and Australian counterparts.
Let’s look first at what will drive demand for long-term self-storage:
The UK, particularly in cities like London, faces a shortage of living space. Smaller homes and flats, often without garages or attics, increase reliance on external storage. With urban populations growing (London alone has over 8.5 million residents), this trend is likely to persist.
With interest rates high, more and more people are downsizing, renting rather than owning or adopting a minimalist lifestyle. These UK residents still need space for seasonal items, furniture or sentimental belongings. With more people working from home, there’s a big push for home office space, and that means people need somewhere to stash their stuff to make room. Approximately 41% of the UK workforce is working from home at least part of the week, and 13% are working from home full-time, according to TechRound.
Small businesses, e-commerce sellers, and start-ups increasingly use self-storage for inventory, equipment, or document archiving, a trend boosted by the growth of online retail.
The UK population is projected to reach 70 million by the mid-2030s. If per-capita storage demand remains constant, this alone would push total needs to around 62.3 million square feet by then.
To gauge long-term needs, let’s consider a few scenarios:
Realistically, the UK’s trajectory is likely to maintain current levels or see moderate growth. The self-storage scene has been on a solid path, growing steadily with 4 million square feet of more space added in 2024 alone. Operators have also been reporting on a strong pipeline of new facilities. Rising living costs and the lack of land in busy cities could slow things down a bit, though.
A realistic long-term guess? Around 1.5-2 square feet per person by 2040. That would bring us closer to global norms while still factoring in UK challenges like pricey land and packed cities. With a population of 70-72 million, we’re talking about 105-144 million square feet – an increase of 45-84 million square feet from today’s 60 million. This is based on the idea that urbanisation, e-commerce growth and a cultural shift toward outsourcing storage needs.
Right now, the UK is working with 64 million square feet of storage space, but over the next 15-20 years, we could need anywhere from 150 million square feet, depending on how much we follow global trends and handle local challenges. It’s a ballpark estimate because a lot will depend on the economy, government policies and how people’s habits change.
The shape of the UK’s housing market has a big impact on long-term self-storage demand. The rental sector is on the rise, with private renting expected to jump from 19% of households in 2023 to over 21% by the late 2030s (according to OBR and industry estimates). Renters move far more often than homeowners, about every 2-3 years, compared to 9-10 years for homeowners. This constant moving around drives short and medium-term demand for storage.
The UK’s ageing demographic is another factor shaping self-storage demand. By 2040, nearly 1-in-4 people will be over 65, up from 19% today, according to ONS. As more people downsize from big family homes into smaller places or retirement homes, they’ll need somewhere to store heirlooms, furniture or seasonal items they can’t fit but aren’t ready to part with.
Property forecasts suggest steady demand for smaller, low-maintenance homes, and that just amps up the need for extra storage. It’s not just how many people we have, but how we live. Smaller, denser, rental-heavy housing will boost self-storage needs. Even a tiny 1% yearly increase in urban renters or downsizers could add 500,000-1 million square feet of demand every year. Conversely, a housing boom (unlikely but possible with policy shifts), adding larger homes, could temper this, though land scarcity makes that a long shot.
Unless we suddenly get a boom of big homes being built (which is unlikely given land shortages), self-storage is a must-have. The bottom line is that the UK could hit the high end of 100-150 million square feet by 2040.
If you want to stay up to date with the latest residential property data, subscribe to our MoverAlerts Property and Homemover report, released quarterly.