Unite student housing suffers slump in property value as rents fall

Student accommodation giant Unite has suffered another drop in property values as higher interest rates and weaker rental income continue to weigh on the FTSE 250 landlord. The company said on Thursday that the value of its UK Student Accommodation Fund fell four per cent in the third quarter to £2.8bn, while its London-focused joint venture saw a 3.4 per cent decline to £1.9bn. The falls were driven by higher yields demanded by investors and…