Student landlord benefits as jobless go back to college

Student landlord benefits as jobless go back to college



Higher unemployment is forcing more young people into further education, increasing demand for short-term flats and providing a boost for Unite, the student accommodation developer. Demand is expected to accelerate at such a rate that Unite yesterday told investors it would continue to buy properties in student hotspots such as London and would not be reinstating the dividend — last paid in the middle of 2015 — until it had returned to ‘meaningful’ profit, even though the group announced a profit of £600,000 after a loss of £5.8 million in 2015. A lack of job opportunities was partly behind a 23% rise in the number of university applications between February 2016 and the same month this year, Mark Allan, chief executive of Unite, said yesterday.