According to Alliance and Leicester, a convenient commute to the office is a key consideration for new buyers.

Its survey said more than half of all first time buyers would prefer to live near to their workplace and a third (34%) highlighted good transport links as a key factor when deciding where to live.

Many of these buyers would have previously been renting, suggesting that buy-to-let landlords should focus on properties near good transport infrastructure for maximum appeal.

Stephen Leonard, director of mortgages at Alliance and Leicester, states that many young professionals are looking to reduce transport costs when moving into their first home.

He said: “Clearly choosing the right location is key to long term happiness in a home, but buyers should also be careful not to overstretch their budgets and may opt for a short commute to work to help keep costs down.”

Average property prices in the UK are set to reach £300,000 in five years, according to the National Housing Federation.