Asking prices in all regions across Britain have risen over the last month, search engine Home has reported.

It says that across England and Wales asking prices are up by 1.1% and in London up 2.1% – a 13.5% increase in asking prices over the last year.

This is despite supply of property for sale across London overtaking demand, with a 31% increase in supply compared with a year ago.

Properties in the capital are now taking 71 days to sell, 24 days longer than in March last year. By contrast, outside London, property is taking eight days less to sell than this time a year ago.

Home director Doug Shephard said: “Prospects for price growth are poor for prime central London this year. An abundance of unsold stock has been whittling away at property values, but for the time being, prices do appear to be stabilising.

“The outlook for Greater London remains mixed but will slowly turn negative as supply increases.”

He said there were indications that the recovery will “at last lift the northern regions out of the misery of price stagnation”.

Home also reports that last month across Britain, supply was up by 9% compared with February last year.

Home puts the average asking price across England and Wales at £271,089, bringing annual house price inflation to 6.8%.

In Greater London, average asking prices stand at £497,070. The cheapest asking price in the country is £152,800 in the north-east – a monthly rise of 0.4%.

Separately, Connells Survey and Valuation reported a “strong surge” across the housing market in February. The firm said it carried out 50% more valuations than in January, although 4% fewer than in February last year.