Would-be residential property buyers risk pricing themselves out of the market by playing a stubborn waiting game, a new poll suggests.

Only one in 10 people would compromise over their first-choice location to live somewhere else, Rightmove's survey of 45,000 people across the UK found.

The property search website has warned potential buyers that this is a dangerous strategy.

This is because escalating property prices mean that prospective purchasers could find the kind of home they want too expensive by the time the right one comes along.

More than half (58%) of adults seeking to buy a home are still looking or waiting for a perfect property to be put up for sale in their preferred location, the report found.

Yet 79% of respondents claim that property prices are likely to go up by this time next year.

This feeling is higher among London residents than anywhere else.

As many as 84% of them say prices will rise; 83% of people living in the South East feel the same.

Homeowners in the capital have benefitted from an especially buoyant market and great levels of interest from buyers abroad.

Residents situated in Scotland and the North West were the least likely to believe that house prices will be higher by the beginning of 2015, at 71% and 72% respectively.

First-time buyers nationwide were shown to be the most likely to be willing to choose a location other than their first choice.

But more than eight in 10 (85%) adults trying to get a foot on the home ladder still claim they would not extend their search elsewhere.

People seeking to downsize to a smaller property were found to be the least likely to budge and buy somewhere in a second-choice location.

As many as 92% of people in this group said they would not consider anywhere else.

Matthew Rothery, Partner at Strutt & Parker in Sevenoaks, has noticed this increasing focus on location amongst buyers in his area and says it is driving up prices in the town.

“The market here at the moment is all about convenience and a town centre location is prized above all else,” Matthew said.

“With this in mind, we have seen the country house market plateau over the last few years (and now become what looks like extremely good value compared to London prices) and the urban market gain significantly in value. For every good central Sevenoaks townhouse that comes on the market, we have five possible buyers – which is driving up the prices in the town. Yet if you are prepared to compromise slightly on location and look further afield, and if your commute is a luxury not a necessity, there are some real bargains to be had.”

Rightmove director Miles Shipside warned: "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."