Falling repayments on
The figure dropped to -0.4 per cent in March, the first time it has reached a negative level since 1960.
Recent Bank of England base rate cuts have resulted in home
The ONS also stated that consumer prices index inflation – which takes items such as household services into its calculations ñ fell to 2.9 per cent last month, down from 3.2 per cent in February.
Transport and fuel costs, as well as declining gas bills, had an effect on this, the ONS noted.
Commenting on the report, the Alliance Trust claimed that elderly people – who may not benefit from lower