Unite says 90% of student rooms booked for next academic year

Student accommodation provider Unite said it had already sold 90% of its rooms for the 2023/24 academic year, reflecting strong demand as well as new nomination agreements with universities.

“This is supportive of our guidance for full occupancy and rental growth of 6-7% for the 2023/24 academic year, compared with 99% and 3.5% in 2022/23,” the company said on Wednesday.

The supply of purpose-built student accommodation cannot keep pace with growing student demand at the same time as HMO 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."

Reporting by Frank Prenesti for Sharecast.com