Research shows it could take young families over 16 years to save for a house deposit.

With the shortage of affordable housing and the rise of house prices, prospects are bleak for young people and young families looking to become home owners.

Shelter, a housing and homeless charity, commissioned Fionnuala Earley Consulting to produce data showing the time it takes first time buyers to save for a 20% deposit, while taking into account current and projected house prices, incomes, essential living costs and rent.

The figures in Shelter’s 'A Home of Their Own’, show that a couple with one child in Slough will have to save for 16.6 years for a deposit.

A couple without children on average save for 8.3 years, and a single person that wants to save for a deposit will be waiting for 16.3years.

The average for a couple with one child in England is 12.3years.

Fiona Mactaggart, MP for Slough commented: “A couple with a child will be saving for nearly 17 years for a deposit; by the time they’ve got enough, the child might be looking to move out!

“And here in Slough where we are affected by the huge rise in prices in London and the South East of England ... we need action to make housing around here affordable.

“Under this conservative Government fewer homes have been built than in any equivalent period since the Second World War.

“Labour will build 200,000 new homes every year by 2020.”