Property portal Home’s asking price index said sellers in London and surrounding areas were buoyed by last year’s large house price increases.

However, with supply of homes having increased 51% the typical property in London is spending 20 days longer on the market than a year ago.

Asking prices have also risen in East Anglia, Scotland and the West Midlands since the start of 2015 but this optimism has is not shared in all areas of the country.

In the East Midlands, Wales and the North West asking prices are flat while in the North East they dropped by 0.9% since the turn of the year.

Across England and Wales the typical time a property spends on the market is 125 days, which is 18 days less than February 2014.

Doug Shephard, director at Home, said those areas of the country still making an economic recovery would see the biggest market shifts this year.

“The best prospects for growth this year probably lie in ‘Middle England’ – regions such as East Anglia, East Midlands, the South West, West Midlands and perhaps Yorkshire,” he said.

“It may be argued that these regions are still in the throes of the recovery phase, as supply remains low and prices have not yet risen too far.”