The UK’s purpose-built student accommodation (PBSA) market is entering a “more mature” and saturated phase, with sector growth slowing, according to research firm BONARD.
In its latest ‘PBSA Market’ report, BONARD reveals that the UK’s existing stock of around 755,000 PBSA beds could increase by up to 23% if the current development pipeline is fully delivered. The publicly disclosed pipeline stands at more than 176,714 as of the end of June, set to be delivered across 436 assets.
This puts the UK ahead of several European markets, with expected additions to existing stock standing at 9% in France, 12% in Germany and 15% in the Netherlands.
However, the number of UK PBSA beds in the development pipeline still represents a slowdown from the 193,948 reported in 2025.
For context, the report shows that in 2019, the number of beds in the development pipeline stood at 34,082, then rose to 43,400 in 2020 and 115,000 in 2021.
Mid-size assets of 100 to 299 beds make up a third (33%) of schemes under development where capacity has been disclosed. Smaller projects below 100 beds make up 21% of schemes, while larger 300- to 499-bed projects account for 17%. Developments in the largest bracket of 500 beds or more account for 29% of the total.
Patrik Pavlacic, chief intelligence officer at BONARD, says: “The UK PBSA market has arguably entered a new phase of maturity. After years of exceptional growth, success can no longer be taken for granted. Investment decisions require a completely new level of synthesis of local market dynamics, student demand, affordability constraints, strengthening competition and organisational resilience.”
Studio units are the most common offering, with 67% of private PBSA assets offering studios in 2025, up from 55% in 2015 and 42% in 2005. Ensuites stood at 55% in 2025, the same level as 2015, up on 51% in 2005. But the report shows a decline in single rooms, down to 19% in 2025, from 25% in 2015 and 30% in 2005.
Across the market, two thirds of assets offer fewer than eight amenities, while a further 28% provide between eight and 11 amenities, with 7% offering 12 or more.
Unite Group has the most beds in the private PBSA pipeline, at 7,761 as of the end of June. This is followed by Fusion Students, with 6,488 beds, iQ Student Accommodation (4,976), Prestige Student Living (4,840) and Fresh (4,182).