We are delighted to publish our Homelessness Property Funds Social Impact Report 2021/22, highlighting the impact achieved by our five homelessness property funds in the twelve months to 31 March 2022.
During this reporting period, the country was emerging from the impacts of the pandemic whilst early indications of the cost-of-living crisis were looming. So, this year’s report looks at how far tenants have recovered from the last two years of uncertainty, the longer term effects of the pandemic and other world events, and the actions and commitments the funds have been doing and continue to do to support tenants through these difficult times.
Capital raised across all five funds since they first launched nine years ago and to 31 March 2022 was £243 million. So far, the funds have purchased 935 properties, and during this time have cumulatively housed 2,914 people, including 1,426 children.
What our property funds have achieved to date:
Why our property funds are needed:
During the last year our two newer property funds, National Homelessness Property Fund 2 (NHPF2) and Resonance Everyone In Fund (REIF), both started deploying, successfully handing over properties to their housing partners who are now providing decent and affordable housing for tenants.
And as the UK’s housing crisis continues to grow nationally, so NHPF2 continues to expand its geographical reach into a number of regions, including London, the South West, South East and North West, enabling it to address regional and more local housing needs and to deliver positive local impact. In line with this, NHPF2 is working with a growing number of expert housing partners with strong footprints in those geographies. The fund now has 9 housing partners so far. This includes Let Us (group of 5 housing partners) in Greater Manchester, Developing Health & Independence (DHI) in Bristol, Response in Oxford, Redwing in Liverpool and Notting Hill Genesis in London.
So, despite the numerous challenges our tenants face, from the pandemic to the cost of living crisis, the funds are providing a stable base for tenants across the country. With support from the fund’s expert housing partners, tenants feel secure in their homes and able to sustain their tenancies, they are able to take steps towards employment, address wellbeing issues, improve their resilience against homelessness and – for the 78% of households with children living in them – make a big difference to the health and wellbeing of their children.
With over 74,000 households at risk of homelessness between January and March this year according to homelessness charity Shelter – including over 25,000 with children living in them and over 10,000 in full time work - there is clearly more to do. But with the support of our impact investors, ranging from pension funds to local authorities, trusts and foundations, our funds continue to grow and provide a sustainable and scalable, place based solution to the UK’s housing crisis.
DOWNLOAD THE HOMELESSNESS PROPERTY FUNDS SOCIAL IMPACT REPORT:
Find out more about NATIONAL HOMELESSNESS PROPERTY FUND 2
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Resonance Limited is a company registered in England and Wales no. 04418625
Resonance Impact Investment Limited, a subsidiary of Resonance Limited, is authorized and regulated by the Financial Conduct Authority (FCA). Firm number 588462.
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