In 2024, asking rents depicted diverse performance narratives across each metro market.
Melbourne emerged as the top-performing market of the year, with asking rates steadily improving across all tracked unit sizes, ending the year at higher price levels than in January — the only market to do so. Conversely, Sydney was perhaps the most challenged market, exhibiting persistent negative rate reversion month over month. Meanwhile, Perth continued to thrive, becoming one of the most bullish self storage markets in the country. While Brisbane exhibited strong performance in the initial reporting periods, performance seemingly waned towards the end of the year.
Looking back on 2024, we are proud with the data we have been able to produce with StorExplore. In 2025, we endeavour to expand Storexplore to our clients. Our focus will be on building a robust and user-friendly data tracking application that offers agile and comprehensive insights into self storage market trends and performance.
Thank you for your support of our monthly Self Storage Market Rate Flash, and we wish you all the best in 2025!
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