That seems unfair to the students who apply for admission: if supply was high the previous year and low the current year, a student in the current year may not be admitted even if they demonstrated identical academic performance (assuming "academic performance" just means standardized test score here) as an admitted student from the previous year.
Sure, but this is just life isn’t it? A university decides to change the courses it offers, or the number of places offered within a course, just because things change. There also might be a new course offered this year which the student would not have had the opportunity to apply for last year.
