Total legacy income up by 8.5%

16 November 2016

Despite the Brexit vote, total legacy income is up 8.5% in the twelve months to September 2016, according to Legacy Foresight.

The latest quarterly bulletin reveals the 78 members of Legacy Monitor Consortium received £1.4bn in legacy income and 51,600 legacy notifications. Compared to the same period last year, total income is up 8.5% and notifications rose by 0.3%.

According to the bulletin, the number of residual notifications has seen a “steady upward trend” over the last 4 years, with an increase from 18,000 to more than 20,000 per annum.

As a result residuals’ share of notifications has risen from 38% in 2014 to 40%. Legacy Foresight believe this is a positive trend that they will monitor over the coming months.

This quarter sees a dip in average residual values however, down from £60.3k in June to £58.5k in the year to September. Legacy Foresight believes this is due to “an adjustment from June’s record high rather than a fundamental weakening of residual values post referendum”.

For the third quarter running, pecuniary values have risen, reaching a new high of £4,120.

Meg Abdy, director of Legacy Foresight, says: “Even against an uncertain economic backdrop the increase in legacy notifications and recent strong growth in values bodes well for the coming year”.

The next quarterly data will become available in February 2017.

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