Charity legacy income growth continues to slow

Falling house prices are a major factor, says Legacy Foresight

Growth in charity legacy income is slowing but still positive, research by Legacy Foresight has found.

In the year to March 2019, Legacy Foresight found that its 80 legacy monitor members, which represent about half the charity legacy market, brought in £1.52bn in legacy income – an increase of 1.8 per cent on the previous year.

But Legacy Foresight said legacy income had been slowing year-on-year since 2013, mostly due to the deterioration of the UK economy and falling house prices.

Growth has mostly been positive, expect for a small fall in legacy income in the last quarter, Legacy Foresight said.

The number of bequests has also remained flat at about 54,000 in the year covered in the analysis, the organisation found.

Legacy Foresight said that it expected annual growth in legacy income of between 2 per cent and 3 per cent over the next five years because of relatively poor economic growth and rising death rates.

The analysis assumes a Brexit departure deal will be reached, either before or after the current October deadline.

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