22/09/2026
Our CEO Selina Short spoke at the Property Council of Australia’s purpose-built student accommodation (PBSA) event in Sydney last week. With Luke Sheehy, of Universities Australia, Craig Carracher, of Scape Australia by The Living Company, the conversation centred on how to unlock the supply needed to support Australia's world-class education sector.
The opportunity: International education contributes $53.6 billion to our economy and employs over 250,000 Australians. According to Federal Government, about 45% of the total economic contribution goes directly to funding Australia’s educational institutions and the rest is injected directly into domestic goods and services.
Education is Australia's second-largest export behind mining and we are lucky to boast nine of the world's top 100 universities.
However, we face a structural challenge. Australia currently has just 128,900 PBSA beds – an 8% provision rate, the lowest of any mature market globally. Compare this to the UK at 33% or the US at 88%. Even with 47,233 beds in the pipeline, including over 21,000 approved but not yet under construction, we'll still face a shortage of nearly 40,000 beds.
Why this matters beyond education: Purpose-Built Student Accommodation is built for students, not the private rental pool, and not a contributor to the housing supply shortfall. Every bed delivered offers more than a safe, secure place to live, learn and build social connections. It takes a student out of competition for housing stock.
PBSA also presents resilient, inflation-protected returns thanks to strong occupancy, sustained rental growth and index-linked income. Capital is now addressing a structural undersupply, and student housing has moved from specialised to mainstream.
Looking ahead: In Australia, our working-age-to-65 ratio will shift from 4:1 today to 2.6:1 within 40 years. International students represent our most productive migration pathway. They study in areas of critical shortage like nursing and engineering, and many stay to fill exactly those gaps.
We can't rely solely on being the lucky country. Being the clever country means exporting knowledge and talent as deliberately as we export resources. PBSA infrastructure is fundamental to making that vision a reality.
Thank you Property Council of Australia for hosting vital conversation and to Mike Zorbas for moderating.
Take a look at our research:
Australia’s PBSA sector: A market poised for growth https://co.jll/4y8a2mJ
Student housing in Asia Pacific: https://co.jll/4iGMFvF
For more information about Australia’s student housing sector, contact Bergin, head of Living in our Capital Markets team.