Newly released research by student accommodation search platform, StuRents, has revealed that the UK Purpose-Built Student Accommodation (PBSA) Sector has grown by a net increase of 2.6% in 2020 with more than 25,000 new beds coming to the UK market.

According to the figures, this now means that the number of private PBSA beds on offer has surpassed university supplied accommodation for the first time, despite challenging and uncertain economic and social conditions.

Its resilience is buoyed by the long-term demand for student accommodation across the UK. According to data from UCAS, a record-breaking 40% of all 18-year olds in the UK submitted an application to study at UK universities this year. Additionally, a projected increase in the 18-year old population over the next decade of 176,000 means demand for UK higher education will continue to grow.

Furthermore, despite the near-term uncertainty around Brexit and Covid-19, the appeal of UK universities to international students outside of the EU isn’t abating, resulting in an 8.8% rise in acceptances compared to 2019.

Whilst headline figures remain positive, in the longer term, student demand has been skewed towards higher tariff Higher Education Institutions (HEIs) with yearly acceptances up by 12.1% in 2020 compared to 2010 versus 1.3% for medium and -0.3% for lower tariff institutions.