According to an RNS, in the 12 months to 31 December 2024, Unite’s adjusted earnings grew 16% from £184.3m to £213.8m.

At the same time, IFRS profits attributable to owners grew 331% from £102.5m to £441.9m.

Unite attributed this to the health of the underlying student accommodation, which helped it achieve 8.2% rental growth.

In comparison this had been 7.4% in 2023.

The group acquired eight properties in 2024 and, looking ahead, management noted acquisitions had become “more attractive” and added: “we expect to see an increased availability of investment opportunities over the next two years.”

Here, management noted that student housing supply was constrained and that “over half” of students who need term-time accommodation lived in HMOs were many private landlords were leaving the market due to rising mortgage costs and increasing regulation.

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In addition, JVs with universities have become a source of opportunity for Unite.

In 2024, Unite announced its first JV, to develop 2,000 new beds with Newcastle University on the latter’s land.

A second such agreement will be announced in the next three months.

“The outlook for 2025 is encouraging with growing momentum, driven by increasing demand and a more supportive policy environment for international students,” said Joe Lister, CEO at Unite Students.

“Additionally, private HMO landlords continue to leave the sector, creating a shortage of student housing.

“We are well-positioned to respond, with a robust development pipeline and new university joint-venture partnerships.

“This not only provides students with high-quality homes but also frees up family housing in local communities.

“We are excited by the opportunities that lie ahead for the business."