Unite Group reports 71% occupancy as UK student housing crisis grows

With the upcoming academic year, UK housing news has been shaken by the fact that the region’s leading student housing group, Unite Students, has already run out of 71% of its total housing occupancy.

The Unite Students news emerging from the UK has recently caught the public’s eye. The company recently told the market that it had hit 71% occupancy throughout its housing outlets across the UK. The figure stood at 70% at the same time in 2023. 

Shares of Unite Group, however, fell by 1.8% on Tuesday morning despite the company emphasising a “strong” start to the 2024/25 academic session.

‍CEO Joe Lister said, “We have seen a strong start to the 2024/25 sales cycle, reflecting the continued appeal of our fixed-priced, all-inclusive offer. The letting performance highlights the ongoing strength of demand from students and universities and underpins a positive outlook for rental growth for the 2024/25 academic year.”

The strong start, Unite Students claims, is a great boost in its quest to achieve its target of 5% rental growth for the upcoming student academic year. The strong start has been attributed mainly to university partners who have reserved an extra 4,000 beds compared to last year. Not just this, Unite Group has also planned on working on four new constructions, which would yield the company an extra 2,000 beds over the next 2 years in this UK housing news. 

The four new projects would be located in cities such as London, Bristol, Edinburgh and Nottingham.

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“We will continue to play a leading role in increasing the supply of much-needed student accommodation at a time when HMO landlords are leaving the market at pace, and the new supply of purpose-built student accommodation slows,” Lister added.