Chart 3.2b : UK PBSA: estimated demand vs pipeline 730,000 740,000 750,000 760,000 770,000 780,000 790,000 800,000 810,000 820,000 830,000 840,000 850,000 860,000 870,000 2025/26 2026/27 2027/28 2028/29 2029/30 A further c. 27,700 beds per annum required to meet latent and future demand plus replace poor-quality university stock by 2029/30 Replacements for poor-quality university stock Latent and future demand Latent demand for 50,500 beds Existing beds Target to catch up Under construction A Student First Group research report | April 2026 | Page 29