New figures have revealed a rise in demand for student accommodation ahead of this year’s academic year – showing the resilience of the sector. Not only have online searches increased by 25% in June 2020, Ucas has also reported a rise in the number of students applying for a university place – reaching a new record high.
Ucas have also reached another new record high after helping 17,420 students get a university place through its clearing system. The number of applications from international students has also increased.
When comparing figures published by Ucas on 30 June 2020 for the 20/21 academic year to figures from the same time last year, it shows:
- A 5% increase in applications from overseas students for the 20/21 academic year.
- A 9.6% increase from non-EU-based overseas students.
In JLL’s 2019 Student Housing Report, it showed a 1.4:1 demand to supply ratio for UK purpose-built student accommodation (PBSA) units between 2014-18. The report also forecasts that this imbalance will increase to 3.5:1 between 2019 to 2030.
A surge in student numbers this year will also increase demand for PBSA. Following the 2008/2009 financial crisis, the PBSA sector was renowned for its resilience – showing the sectors strength and ability to deliver growth for investors.