This is the abridged version of our full Homelessness Property Funds Social Impact Report 2024/25.

Across the UK, homelessness and housing insecurity continue to rise, placing immense pressure on families, local authorities and the wider housing system; 1.3m households are on social housing waiting lists in England and over 131,000 households are currently living in temporary accommodation, including 169,000 children.

Against this backdrop, our five Homelessness Property Funds are demonstrating how social impact investment can play a meaningful, scalable role in addressing one of the UK’s most urgent challenges by providing life-changing homes for people at risk of homelessness.

Our latest Social Impact Report brings together data and insights from our funds, showing how institutional capital raised from socially minded investors, including pension funds and local authorities, and deployed with purpose – alongside partnerships with 10 expert housing partners - is helping to create safe, affordable homes while also delivering positive and measurable social outcomes for tenants.

Since the first fund launched in 2013 our homelessness property funds have:

• raised around £361 million
• acquired 1,187 properties across England
• housed and supported nearly 3,900 people, including many families with children

In 2024/25 alone, the funds provided stable homes for 2,324 people, including 965 children.

Key outcomes for tenants

This year’s impact report is evidencing that stable housing acts as a foundation for wider positive change. Tenants report improvements across health, wellbeing, social connection and financial stability once they are settled in a secure home, including:

• 52% reported improvements in their mental health
• 62% said their new home made them feel better compared to their previous accommodation
• 98% are registered with a GP
• 77% eligible for work are in employment or making progress towards employment
• Housing stability also supports stronger relationships and community ties.
• 56% said their tenancy had a positive effect on their relationships
• 71% were happier in their new neighbourhoods
• 68% of parents (with children living in our homes) said their home was having a positive impact on their children

Having a secure home provides tenants with a stable foundation that helps them to regain control of their finances and plan for the future. Almost all our tenants have a bank account, some are able to save – despite the effects of the cost-of-living crisis - and tenancy sustainment rates are exceptionally high.

When our tenants are ready to move on into other forms of long-term housing such as private rentals and housing association homes, outcomes are positive, with nearly 80% of move-ons resulting in stable, long-term housing. This reflects the role of the funds not just in preventing homelessness, but in enabling lasting pathways out of it.

As usual, our impact report includes the lived experiences of some of our tenants, who have shared, in their own words, the difference our homes are making to their lives.

Delivering value for society

Beyond individual tenant outcomes, the funds are also delivering wider public value. In 2024, Better Society Capital commissioned Alma Economics to produce a report estimating the financial and non-financial benefits of our homelessness property funds. They found that between 2013 – 2023, our model is estimated to have saved local and central government £104m in spend on temporary accommodation and £36m from reduced costs in healthcare, mental health support and criminal justice services.

Off the back of this and during the year, we commissioned Alma Economics to assess the impact of our funds from 2025 onward. The new report estimates a social return on investment of £1.9 million for every £10 million invested per year, reflecting savings to the public purse alongside improved life outcomes for tenants.

With local authorities spending billions each year on temporary accommodation, the funds are offering a model that combines social impact with financial sustainability, helping to reduce local authority and central government costs, while improving lives.

Looking ahead

As housing pressures continue to intensify, the need for long-term, scalable solutions has never been greater. Building on more than a decade of experience, we are launching a new evergreen fund, Resonance Housing Pathways Fund, in 2026, designed to attract further institutional investment and expand the number of homes delivered and people supported out of homelessness.

Together with housing partners, investors and local authorities, our homelessness property funds continue to show how impact investment can provide a sustainable solution to the UK’s housing crisis and unlock lasting social impact at scale.

Read our abridged version of our Homelessness Property Funds Social Impact Report 2024/25, HERE.

Read our full Homelessness Property funds Social Impact Report, HERE.