As we start 2025, the UK continues to face a significant housing crisis. Over 117,000 households in England alone, are living in temporary accommodation, including over 130,000 dependent children. Social housing lists are at an all-time high, fewer homes are being built, house prices and private rents continue to rise, all of which is leaving many people facing homelessness, rough sleeping and living in inadequate accommodation.

The need for decent and affordable housing is a huge issue presenting many challenges for government and local authorities.

This is where Resonance’s Homelessness Property Funds come in. They aim to tackle homelessness through social impact investment, providing stable, affordable housing by purchasing and refurbishing properties – thanks to impact investors including pension funds and local authorities - which are then managed by experienced housing partners.

As of March 2024, the funds have raised £323 million, housing 3,647 people in 1,140 tenancies, including 955 children. The funds focus on providing stability, improving tenant outcomes, and creating a positive social impact.

A decent and stable home can help improve the lives of tenants who have previously lived in temporary accommodation. It enables them to start focusing on their personal needs, such as improved mental and physical health and wellbeing, recovery from trauma, access to health care, creating new and more stable routines for themselves, finding employment and financial stability, connecting with their local community and improving relationships and support networks and rebuilding self-confidence, life skills and resilience. Ultimately helping to break the cycle of homelessness and create long-term independence and personal empowerment.

Our latest Homelessness Property Funds Social Impact Report 2023/24 highlights the funds’ key social impact outcomes:

• People housed
  • 2,207 individuals (1,252 adults, 955 children) were housed this year, an 8% increase from the previous year
  • Since 2013, the funds have cumulatively housed 3,647 people

• Tenant wellbeing and stability
  

  • 96% of tenants reported improved support networks and relationships
  • 99% of tenancies were sustained for the first six months
  • 91% of tenants are registered with a GP

• Tenant progress towards employment
  

  • 50% of eligible tenants are employed
  • 10% are in education, and 6% participate in work-based learning

• Impact on children
  

  • 61% of households include children, with 43% of tenants being children
  • 72% of parents stated their home positively impacted their children
  • Stable housing is vital for children, providing them with improved health and development, access to education, emotional stability and life chances

• Diverse tenants and needs
  

  • 60% of main tenancy holders are women
  • 58% of tenants are from global majority backgrounds
  • 90% of tenants are aged 25-59
  • Households include single adults, families with children, and individuals with complex needs, such as mental health issues and prior rough sleeping

• Housing partners
  

  • 10 expert housing partners across 6 regions in the UK
  • 75% are housing adults and children
  • 80% are registered providers of social housing

• Housing portfolio
  

  • £323 million raised to acquire 1,140 properties
  • Properties in regions including London, Manchester, Liverpool, Oxford, Bristol, and Milton Keynes
  • 69% of properties meet EPC C energy efficiency standards or higher

• Future ambitions
  

  • Support tenants in unstable times and strengthen the existing Tenants’ Forum to help understand the issues tenants face and to shape direction of the funds
  • Continue geographical expansion through place-based investment and partnerships in areas of most housing need
  • Enhance environmental sustainability of properties
  • Improve shared learnings and practices with housing partners in delivering high-quality housing and support to tenants

The impact of stable housing on tenants' lives is illustrated by the tenant stories shared in our social impact report, highlighting transformations from instability to independence, improved health, and strengthened family ties.

Read the Homelessness Property Funds Social Impact Report 2023/24 here.

About National Homelessness Property Fund 2 (NHPF2)

NHPF2 was launched in 2020 and, to date, has raised £129m from institutional investors. It currently operates in Greater Manchester, Merseyside, Bristol, Oxford and London and has over 350 properties in its portfolio, with expert housing partners supporting nearly 500 individuals and families.

The fund is aiming to purchase family and one-bedroom homes – including from portfolio purchases – across the UK.