Location remains key in the property market, but increased demand could push buyers to look further afield.

Doug Crawford, chief executive of conveyancer My Home Move, warned buyers may need to start getting more flexible as demand continues to outstrip supply.

He said: “Compromise may have to become the buzz word of 2016, as there is little to suggest the situation is likely to ease any time soon as more and more homeowners chase after on property.”

It comes as a survey by My Home Move showed location has topped the main reasons buyers make an offer on a home, but women are more keen to be near family than their male counterparts.

A poll by conveyancer My Home Move found 58% of Brits make an offer on a property due to its location.

Yet broke down by gender, women were more likely to base their decision on being close to family at 32%, compared with 26% of men, while both listed being close to friends as least important.

Transport, green space and local amenities were also highlighted as key to buying decisions.

When choosing the location of their property, 40%  of home movers favoured good transport links as the most important factor, followed by 35% favouring a nearby green area and 32% wanting to be close to shops, cafes and restaurants.

Crawford said: “Britain’s love affair with property is built on location. For most people, location is the secret ingredient that makes them fall in or out of love with their home.”