Summary:
- Unite Group, the UK’s largest student accommodation provider, reduced rents by 0.3% for the current academic year, the first decline in over 25 years outside the Covid-19 lockdown, driven by falling international student numbers and more domestic students living at home.
- Despite weaker demand in key university cities such as Nottingham, Leicester, and Sheffield, Unite maintained a high occupancy rate of 95.6% across its 72,000 beds, slightly up from the previous year, reflecting steady reservation levels amid evolving student preferences.
- The company’s portfolio valuation dropped 3.9% in Q3 to £4.7 billion, down 8% year-to-date, prompting Unite to consider selling certain halls as the sector adapts to structural shifts and affordability challenges impacting the UK student accommodation market.
Original article:
https://www.propertywire.com/news/uk/unite-group-lowers-student-rents-for-first-time-in-25-years/
