The June 2020 release of the Urbis Storage Index provides the first market measure of the initial impact of COVID-19 on the self storage industry in Australia and New Zealand.
Unsurprisingly, the majority of markets have recorded negative fee rate growth and weakened occupancy levels in this edition, although we highlight that the results are current as at 30 June 2020 with recovery continuing to be reported across most markets as we learn to live with COVID-19.
Since the last release, Auckland continues to demonstrate the strongest average storage fee rate growth, albeit at the expense of occupancy; and Sydney Inner wins in occupancy growth.
Overall revenue is down since the same time last year, with the exception of Sydney Inner (up 1.85%) and Brisbane Outer (up 4.18%) – both of which attributable to occupancy growth, despite recording reductions in fee rate.
The data in this report relates to the six-month period from December 2019 to June 2020. Click the image below to download your copy.