SSAA Releases 2025 Industry Snapshot

The Self Storage Association of Australasia (SSAA) has released its “2025 Industry Snapshot,” revealing unprecedented transaction activity and record development momentum across the sector this year.

The Snapshot tracks a $20 billion dollar industry, spanning 3,380 facilities, 7.5 million square meters of net storage area and around 730,000 units across Australasia. SSAA CEO Makala Ffrench Castelli said this year’s report reveals an asset class that is maturing quickly, attracting record levels of capital and continuing to deliver solid operational performance, even as new supply reaches fresh highs.

“Deal flow has lifted to record levels, operating performance has settled into a sustainable rhythm and the development pipeline is gathering pace, particularly along the east coast,” she said.

Beneath the headline numbers, population growth, migration, density, and housing turnover remain key drivers of storage demand.

The SSAA Industry Gauge* sits at 3.55, which is broadly in line with 2023 and 2024, pointing to a stable but competitive market, where movement of people continues to underpin performance.

Ffrench Castelli said one of the clearest signals of sector maturity is the shift in capital.

Preliminary figures suggest 2025 will be a record year for self-storage transactions, with an estimated $5.36 billion in going concern deals across Australia and New Zealand.

Four major portfolio sales account for around $5 billion of that volume, and individual assets are also on track for the strongest year on record.

“The buyer landscape has changed,” Ffrench Castelli said. “Once dominated by REITs, we’ve watched private equity and private investors accelerate their activity.”

“This trend highlights the growing institutionalization of the Australasian self-storage market, driven by long-term fundamentals of resilient income, scalability and favorable demographic drivers,” she said.

The increased interest in the market has been matched by a rise in new supply. Development activity has surged, with record levels of new supply forecast and a further wave of projects due over the next two to three years.

New development remains heavily concentrated in metropolitan east coast markets. Melbourne and Sydney together account for nearly 60 percent of total development activity, and the three east coast capitals are projected to have increased their total net storage area by about 7.5 percent during 2025, well above the pre-pandemic average of 2 percent to 3 percent growth per annum.

“Population growth through skilled immigration, interstate migration, urban densification, and evolving lifestyle patterns continue to underpin long-term demand for storage solutions,” she said.

Ffrench Castelli said operational performance has normalized post-pandemic, but it remains healthy. The weighted average storage fee sits at $394 per square meter per annum, up from $380 a year earlier and revenue per available meter (RevPAM) $335.

Overall market composition has remained broadly stable since 2024 and despite ongoing consolidation, the sector remains highly fragmented.

The Industry Snapshot reveals independent operators continue to represent a significant portion of the market, holding 49 percent of total net storage area, while the three largest operators account for 41 percent, and mid-market operators a further 10 percent. The Snapshot also explores some key trends across the sector, including shifts in operating models, technology, and security.

• 35 percent of operators have moved to hybrid or remote management models, blending people and technology, while 65 percent remain fully staffed.
• AI adoption is gathering pace, with 62 percent of respondents believing AI will be transformational or important within the next decade.
• Two-thirds of operators are concerned about crime in the year ahead.