There will not be any meaningful growth in the overall legacy market for at least two years, according to the latest report from Legacy Foresight.
In its latest Legacy Bulletin, the 51 members of the Legacy Foresight consortium, which together account for 49 per cent of the charity legacies market, reported that combined income in the year to the end of September 2011 was £968m. This is a fall of 1.6 per cent on the same period last year.
It means that charity legacy income has fallen in each of the past three quarterly reports. The combined income in the year to June 2011 was £977m, to March 2011 it was £981m, and to December 2010 it was £992m.
Over the 12 months to September 2011, 30 of the 51 consortium members saw their legacy income fall, while the other 21 saw it rise.
"The depressed economic outlook suggests that recent trends in legacy income will continue," the report says. "Under our central scenario, we do not foresee any meaningful growth in the overall legacy market for at least two years.
"Under our pessimistic scenario, if the western economies do move back into recession, legacy incomes overall are likely to fall."