Croydon is the best place in London to quickly save for a housing deposit whilst renting, according to research.

Factoring in average take-home salary minus the cost of living, the study by price comparison website MoneySuperMarket identifies how long it would take for a couple to save up for a property deposit in different locations.

Based on a variable deposit, the research found it would take a couple on average seven years to save the required amount in Croydon.

Rachel Wait, consumer affairs spokesperson at MoneySuperMarket, commented: "There are options across the country that won’t take a lifetime to save up for.

"Even in London, where Croydon couples can buy a house within seven years of saving.

“Saving money for a home can be daunting, even where mortgages are more affordable.

"But you can take control of your finances more easily than you might think, by planning out how to save and looking at ways to cut back – as well as considering whether you could save up faster by moving somewhere with a higher salary or a lower cost of living.”

The study found it would take just two months for a couple to save up for a deposit in Scottish Town Paisely, the shortest amount of time in the UK.

Couples renting in London were found on average to need 22 years and two months of saving to become property owners.