Legacy income up 10%, reveals Legacy Monitor
Melanie May | 11 August 2016 | News
Total legacy income rose by 10.2%, while notifications increased by 5.5% in the 12 months to June 2016, according to Legacy Foresight’s Legacy Monitor, revealed in its latest quarterly Bulletin.
The figures are based on Legacy Monitor’s 78 Consortium members, which received legacy income of £1.41bn and 52,200 legacy notifications.
Set up in 2008, the Legacy Monitor is a consortium research programme to analyse, benchmark and debate trends in the legacy market. It incorporates an annual review of trends in the legacy market, and a quarterly benchmarking service. This year’s programme benchmarks 78 of the UK’s leading charities (the Consortium members), who together account for 52% of the legacy market.
According to Legacy Foresight, growth rates have improved significantly since the last quarterly Bulletin, helped by a resilient pre-referendum property market, which saw UK house prices rise by 7.2% in the second quarter of 2016, and climbing share prices.
An increase in deaths in winter 2014/15 is also driving the rise in legacy incomes this year, as the residual bequests notified last autumn pay out, while average legacy values – both residual and pecuniary – reached record highs this quarter, topping £60,000 and £4,000 respectively.
However, Legacy Foresight warns that the data does not cover the fallout from Brexit. Its latest forecasts suggest that legacy market growth rates will fall, averaging 2.6% per annum over the next five years, while this time last year it was predicting 4% per annum.
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About Melanie May
Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via thepurplepim.com.