Like-for-like legacy income among large charities is up 9.8 per cent in the year to December 2014, according to a survey by analyst Legacy Foresight.

During that period, participants received combined legacy income of £1.25bn and almost 47,000 legacy notifications.  

The survey is based upon top-line legacy performance data from the members of the Legacy Monitor Consortium, which is made up of 76 charities that account for more than 54 per cent of the legacy market.

Set up in 2008, the programme incorporates an annual review of trends in the legacy market, and a quarterly benchmarking service.

Aside from a blip in Q2 2013, annualised income has grown every quarter since the start of 2012.
 
According to the analyst, the buoyant housing market is a key driver of residual legacy values and, as a result, higher legacy incomes.

In the year to December 2014, the average residual value across the Consortium was £58,300; up 9.2 per cent on the previous year.
 
Residual legacies account for 87 per cent of Consortium legacy income.  

Pecuniary (cash) gift values were worth on average £3,700 across the Consortium, with such legacies accounting for 7 per cent of Consortium income.