Responsible Housing REIT’s IPO plans are testament to growing investor appetite for UK supported housing.
Covid-19 has reaffirmed a crisis in housing provision facing some of the most vulnerable members of our communities. According to Shelter, six million people in England fear homelessness as a result of Covid-19 and 130,000 households in England were made homeless during the first year of the pandemic.
At any one time, 600,000 people rely on supported housing in the UK and it is crucial that supply meets growing demand.
In London alone, new research commissioned by the Greater London Authority (GLA) found rough sleeping in the capital had risen by 3% in the past year. This is almost double the number of people seen sleeping rough in London 10 years ago.
Through our partnerships with local authorities, we have seen the benefits of providing supported housing to councils. Partnerships can create crucial cost savings and help local authorities to best meet their obligations under the Homelessness Reduction Act 2017, which will become more crucial as we recover from the pandemic.
This is something we are very passionate about at HSPG, so it is heartening to see others follow suit. We are delighted at the prospect of working with BMO to deliver this investment.
Investors are waking up not only to the potential of supported housing in providing robust returns, but also the benefits it brings to communities. Much has been said about the growth of ESG investment and few things could offer greater social impact than supported housing.
Mark Edwards, investment director, HSPG
RESI Convention takes place 8-9 September 2021, join Property Week and inspirational speakers as we deep dive into the key strategic issues that really matter post-crisis in ‘The Age of Responsibility’.