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.”