Home buyers sacrificing space to save money

A survey conducted by the Shurgard Storage Company has revealed that due to the rise in property prices, buyers are giving up extra space to save money.

A survey conducted by the Shurgard Storage Company has revealed that due to the rise in property prices, buyers are giving up extra space to save money.

The 3,000 British residents polled found that this lack of space has led to the loss of the spare room.

The rising number of students forced to move back into the family home after university, as well as the increase in the elder generation moving in with their grown up children, homes are filling up faster than ever before.

VP Operations at Shurgard, Duncan Bell, said: "Everyone is feeling the squeeze with property prices increasing at such a rate. We know people are struggling to afford the space they need so it's time to start changing the way we store our belongings.

"Rather than clogging up the home, look at alternative options - using a self-storage facility can be a cost effective way to keep hold of treasured possessions and create a little more breathing room in the home."

Property prices in the UK continue to skyrocket with new sellers lifting the average asking price by 3.3% (or £8,103) this month. The average property price in the UK is now £251,964, an increase of £16,000 from a year ago.