Why car sales are through the roof but homebuying down in the basement

For the moment, the two are going in opposite directions, a temporary result of curbs on mortgage lending in response to market showing signs of overheating

March 2015 was a great month to be selling new cars in Britain. Almost 500,000 were shifted, making it the best month the motor trade has had this century, according to the Society of Motor Manufacturers and Traders. It was the 37th month in a row that there has been year-on-year growth in business.

It was not a great month to be flogging houses. Demand for mortgages, according to the Bank of England, fell significantly in the first quarter of the year, continuing the trend seen in the final three months of 2014.