From an evolutionary perspective, there are certain physical traits that we are pre-disposedto find attractive (Shackleford and Larsen 1997)
Females with neotenous (child-like) faces are more likely to be viewed as attractive by males because their facial features (e.g. soft chin, large eyes) trigger anaggressive and protective trait in men. This gives females an evolutionary advantage (i.e. increasing their chance of survival and reproduction).
Women who have symmetrical body shapes are considered more attractive than those who do not. Symmetry is associated with good health and genetic fitness.
The halo effect suggests that we tend to associate highly attractive people with pre-conceived disproportionately positive characteristics, including personality and wealth, even though these factors may not be linked.
We are more likely to view attractive people as trustworthy, honest, successful, and more sociable compared to their unattractive counterparts, i.e. "what is beautiful is good" (Dion et al).
These beliefs increase the likelihood that such attractive people develop these traits, and so displays the process of a self-fulfilling prophecy
The key to a successful relationship, according to the Matching Hypothesis, is striking a balance between the attractiveness of a mate and the realistic chances of attaining such a mate.
The matching hypothesis relies on an accurate assessment of one's own attractiveness and "value", meaning that we are more likely to have a mate who is of a similar attractive level to us.
This method reduces the chances of rejection by a seemingly unattainable individual (in terms of attraction) and the potential disappointment of a disproportionately less attractive mate.
The idea of physical attractiveness being important to a relationship is not restricted to the "early" stages. For example, McNully et al (2008) found that physical attractiveness was still an important determinant of a successful relationship, even after marriage.