AUSTRALIAN PROPERTY INSIGHTS
CAMPUS QUARTER
OCCUPIER MARKET
OCCUPANCY AT RECORD HIGHS Australian PBSA assets are currently operating at their highest occupancy levels since the sector’s emergence. Most stabilised buildings are reporting occupancy between 95% and 100%, with even newly completed assets letting up quickly. Letting cycles have shortened, booking windows are opening earlier, and pre-commitment rates are rising.
While PBSA traditionally sees seasonal softness during semester breaks, recent years have shown less volatility as more students opt to stay year-round, and mid-year intakes expand. The return of international students – particularly those from Asia – has reinforced base occupancy, while growing domestic mobility has added a secondary layer of demand. Operators are also reporting reduced churn, reflecting a student preference for secure, service-led housing in uncertain rental markets.
CHART 10
AUSTRALIAN PBSA OCCUPANCY 2018 - 2025
90
80
70
60
50
40
30
20
10
2018
2019
2020
2021
2022
2023
2024
2025
Source: Cushman & Wakefield Research
Scape Redfern, Sydney
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CUSHMAN & WAKEFIELD
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