Notting Hill Genesis

The Challenge:

The homelessness crisis in London continues to spiral. According to London Council’s recent estimate, 170,000 people in the city are homeless and residing in temporary accommodation - one in 50 of the capital's entire population. On average there is at least one homeless child in every London classroom. Despite the boroughs' efforts to assist homeless households; the shortage of available properties, especially in the lower market segment, has intensified that challenge. Research by Savills and the LSE indicates a 41% decrease in listings of PRS (Private Rented Sector) properties and a 20% increase in rents since the onset of the Covid-19 pandemic. In 2022-23, only 2.3% of PRS housing was deemed affordable for low-income households relying on Local Housing Allowance to cover their rent.

Approach:

Notting Hill Genesis, as one of the largest housing associations in the country, is dedicated to addressing homelessness and the wider housing crisis by providing quality affordable housing. With more than 60,000 homes in its portfolio across London and the South-East, it offers a variety of tenures, including social, affordable and private rent; leasehold; key worker housing; temporary housing and shared ownership. It operates with a resident-centric philosophy, emphasising three core priorities: "better connections," involving actively listening to residents' concerns and engaging with their needs; "better homes," striving to ensure safe and comfortable living regardless of tenure; and "better places," managing estates in a holistic manner that enhances the sense of community.

In 2023 it partnered with Resonance’s National Homelessness Property Fund 2, through which it will manage almost 600 properties aimed at supporting families in the highest need by providing vital temporary housing to those who would otherwise have nowhere to go.

Revenue model:

Notting Hill Genesis is financed by rental income and the sales of assets (houses in its portfolio). It has also benefited from an £8m government grant to enable more than 1,000 households to reduce their energy bills.

Impact:

Notting Hill Genesis has almost six decades of experience managing social and affordable housing. Two in 100 Londoners are currently living in a Notting Hill Genesis Home, and it provides services to households in over 60,000 homes across every borough. Alongside improving its existing homes and services it continues to build new homes, with more than 8,000 in its existing pipeline. It has earmarked £0.5 billion over the next 10 years for investment in existing homes.