Industry ‘cannot keep pace’ with student housing demand

Unite has said it “cannot keep pace” with soaring demand for student housing.

The student housing developer revealed that 90 per cent of its rooms for the 2023/24 academic year had already been sold at the end of March, compared with 78 per cent last year, while it expects rental growth of 6-7 per cent in the next academic year.

In a trading update, Unite added that it was committed to four development schemes, worth £339m, and was currently looking at several new development opportunities.

Unite Students chief executive officer Richard Smith said: “The supply of purpose-built student accommodation cannot keep pace with growing student demand at the same time as [private] landlords are leaving the sector.

“We are therefore tracking a number of new development opportunities at attractive returns, which we are uniquely positioned to deliver through our university relationships and development capability.”