Jobs to outpace homes in 15 of 20 university cities by 2035, living sector study finds

Job growth is forecast to outpace housing delivery in 15 of 20 UK university cities by 2035, according to research by Close Brothers Property Finance, JLL and The Housing Forum launched in London on 20 October.

The report, The Living Sector: An Engine for Growth and Talent Retention in the UK's Cities, found that cities with the most mature living sectors have added jobs at almost twice the rate of less mature markets.

The Housing Forum said cities such as Cardiff, Manchester, Birmingham and Leeds, which have made room for purpose-built rental homes, are adding jobs, cutting unemployment and keeping young people.

Chiara Caldwell, Managing Director, Structured Finance at Close Brothers Property Finance, said: "Too often, the Living Sector is treated as a planning challenge rather than a policy solution." She said the evidence showed "the cities that have made room for professionally managed rental homes are the cities adding jobs".

The research

The 20 cities were chosen because they are principal university cities ranked in national university league tables and guides, The Housing Forum said.

The study covers purpose-built student accommodation (PBSA), build to rent, co-living and other professionally managed rental housing. The authors describe it as the first comprehensive study of the relationship between these forms of housing and the economic performance of UK university cities.

Close Brothers Property Finance announced in September that it had partnered with JLL and The Housing Forum on the project. The research included a survey of developers, operators, investors and advisers active in the living sector, and set out to identify the policy changes needed to unlock further growth.

According to Close Brothers Property Finance, the report found strong confidence in the sector among investors and developers. It also found that viability pressures, planning constraints and regulatory challenges continue to restrict delivery.

The launch

The findings were presented at The Housing Forum National Conference 2026 in a session titled Research Launch: The Living Sector as a Devolutionary Engine, presented by Close Brothers Property Finance, JLL and The Housing Forum.

Alex Notay, chief executive of The Housing Forum, chaired the session. Speakers included Marcus Dixon, UK Head of Living and Residential Research at JLL, and Caldwell. Cllr Lorna Fielker, Leader of the Council, Southampton, and Michela Hancock, CEO of Hilltop Property Partners, also took part.

The organisations

The Housing Forum describes itself as the only cross-sector, industry-wide body representing the whole housing supply chain. It has more than 150 members, including councils, housing associations and investors, and says its primary purpose is to encourage collaborative solutions to increase delivery of quality homes.

Close Brothers Property Finance says it has lent to property developers and SME housebuilders for more than half a century. In August it completed a £67.2m facility with Draycott Group for Harlech Court, a 340-home build-to-rent development in Cardiff city centre, one of the cities named in the research.

The lender said Harlech Court has a gross development value of more than £100m and will be one of the tallest buildings in Wales.