• Resonance Housing Pathways Fund (RHPF) aims to unlock up to £700 million to provide low-cost affordable homes for people facing homelessness
• The fund builds on a proven model that has already helped house almost 4,000 adults and children across the UK
• The fund is designed to increase the supply of low-cost affordable homes at a time when more than 164,000 households are living in temporary housing

Resonance, one of the UK's leading social impact property fund managers, today announces the launch of the Resonance Housing Pathways Fund (RHPF), its first open-ended residential property fund. This launch aims to tackle the UK's growing homelessness crisis by creating more safe, settled and low-cost affordable homes for people in housing need.

The target is to raise £700m by the end of 2030, with a long-term ambition to build the fund into one of the UK's leading impact-focused residential property funds. By bringing together social purpose and long-term investment, it is designed to help increase the supply of homes for individuals and families who would otherwise be at risk of homelessness or stuck in temporary housing, with the ambition of helping around 15,000 people into stable housing over time.

The launch comes at a critical moment. The latest figures[1] show over 164,000 households are stuck in temporary housing across the UK, representing an estimated capital need of approximately ​​£40 billion to provide sufficient settled housing. Behind those figures are families living in insecure conditions, children growing up without a stable home environment, and individuals facing significant barriers to rebuilding their lives.

Resonance believes that everyone should have access to a safe and secure home. Through the Resonance Housing Pathways Fund, it aims to demonstrate how private capital can be used responsibly to address one of the UK's most pressing social challenges while delivering lasting benefits for communities.

Simon Chisholm, Chief Investment Officer at Resonance, said: “The Resonance Housing Pathways Fund gives us the structure and the scale to reach many more of the people who are in housing crisis. It also gives institutional investors something increasingly rare: a genuine alignment between financial return and social purpose. Every property we acquire creates a safe, stable home for someone in crisis, and the need for those homes has never been greater. We have demonstrated, over more than a decade, that this model works, financially and socially, and the track record is there to prove it.”

The fund builds on more than a decade of experience delivering housing solutions for people facing homelessness. Resonance's homelessness property funds have helped provide homes for 3,870 people to date, including 2,324 people in 2024/25 alone. Of those, 965 were children, highlighting the urgent need for stable housing for families across the UK.

Resonance works with specialist housing partners, who lease properties on long-term agreements and let them to individuals and families facing homelessness. These organisations help residents move away from crisis and towards greater stability and independence. Housing Partners working with the Fund include Developing Health and Independence (DHI), Salix Homes, Regenda/Redwing and Notting Hill Genesis. 

Rosie Phillips, Chief Executive, at DHI said: “A home is far more than just a roof over someone's head – it provides the safety, security and stability people need to move forward with their lives. Through our partnership with Resonance, we've seen first-hand the difference that social investment in housing can make for people facing homelessness. We're excited to see this new fund launched and look forward to seeing even more people benefit from safe, affordable homes and the opportunity to build a brighter future.” 

RHPF will initially be seeded with over £100m of existing property portfolios from two established Resonance funds - the National Homelessness Property Fund 1 and Real Lettings Property Fund 2 - representing diversified portfolios of residential properties across Greater London, Bristol, Oxford and Milton Keynes. The portfolio will then continue to grow and expand across the UK. Initial investors include Oxfordshire Pension Fund, Westminster City Council, City Bridge Foundation, Better Society Capital, and five Local and Strategic Authorities.

Josh Brewer, Responsible Investment Officer at Oxfordshire Pension Fund, said: “We are proud to invest in a fund that will make a real difference, both nationally and locally. This investment will increase the availability of affordable, settled housing in Oxfordshire, supporting individuals and families as they move on from homelessness towards long-term stability. Investing £10m into Resonance Housing Pathways Fund is consistent with the Oxfordshire Pension Fund’s fiduciary duty to deliver strong, long-term returns for our members, while also supporting positive outcomes locally.” 

The fund is targeting a projected net return of approximately 6% per annum over a 10–15 year period, with income underpinned by government-linked Local Housing Allowance (LHA) rental streams, helping attract long-term investment into much-needed housing solutions.

The fund meets the requirements of the Sustainability Disclosure Requirements (SDR) regime, adopting the FCA 'Sustainability Impact' label upon launch. 

[1] https://www.gov.uk/government/statistics/statutory-homelessness-in-england-october-to-december-2025/statutory-homelessness-in-england-october-to-december-2025
 

https://www.gov.wales/homelessness-april-september-2025
 

https://www.gov.scot/publications/homelessness-in-scotland-update-to-30-september-2025/pages/temporary-accommodation/

https://www.nisra.gov.uk/news/more-8000-households-presented-homeless