Market Trends of UK Student Accommodation Industry
Students admitted in colleges affecting student accommodation market in UK
During the year 2021, a large section of the population in the UK was in the age group of 20-24, accounting for 4.03 mn, and in the year 2021 of the total population under the age group of 18-24 years, 44% of the population was engaged in education. This signifies almost more incredible than 2mn of the population in the age group of 18-24 years is engaged in education. This creates a large customer base for student accommodation service providers. Over the coming period, this growth is expected to continue as a large section of the UK population every year is entering into the tertiary level of the education system, which creates a significant demand in the student accommodation market.
Expansion in Education Market of UK Impacting Student Accommodation Market.
The UK has a world-class educational offering with a strong global position in the international market. This is leading to a large number of International students being admitted every year for higher education. In 2021/22, the United Kingdom spent almost GBP 100.3 Bn on education, making a strong global position for the UK and an attractive place for students to pursue their careers.
During the year 2019, almost 41% of the students in the age group of (18-24) years were engaged in education, and this increased to 44% in the year 2021; this combined with expanding UK education market, signals positive growth for UK student accommodation market over the coming years.
