Prospective home-buyers are taking a “no compromise” stance over the location they want to live in, with just one in ten people saying they would be willing to settle for second best.

But property website Rightmove, which carried out the survey, warned would-be buyers who are waiting for a home to become available in their most desired area that they are playing a “risky game”, as rising property values mean that by the time one comes up, they could find themselves priced out.

Rightmove’s research of more than 45,000 people from across the UK found that 58% of those looking to buy a property are still searching or waiting for a home to be put on the market in their ideal location.

Meanwhile, almost four-fifths (79%) of people surveyed expect house prices to be higher in a year’s time.

Those living in London, where the market has been particularly strong amid high amounts of interest from overseas buyers, were the most likely to say this at 84%, followed by 83% of people living in the South East.

Across the country, first-time buyers were found to be the most likely to be willing to compromise on location – but 85% of people trying to get on the property ladder still said they would not widen their search elsewhere.

Those looking to downsize to a smaller home, perhaps because their families have flown the nest or they are freeing up cash for retirement, were found to be the least likely to consider settling for a second-choice location.

Some 92% of people in this group said they would refuse to consider somewhere else.

Miles Shipside, director of Rightmove, said: “There’s a real mismatch between buyers’ no compromise stance on their most favoured place to live and the rising tide of prices.

“Playing a waiting game and holding out for the right property in the right location could prove risky as, with prices in some locations rising by the month, buyers may discover that the one they’ve been waiting for is over their budget.”

Some recent housing market studies have pointed to a lack of supply of homes coming to market, which is helping to put a strong upward pressure on house prices in some areas as mortgage support schemes such as Help to Buy unleash more potential buyers into the market.

Experts normally see a seasonal “spring bounce” around this time of year as more people start thinking about moving house, which could result in more people being encouraged to put their house up for sale.