Creating a new project takes very long

Hi All. When starting PyCharm and selecting "Create New Project" a pop up appears saying "Creating Virtual Environment" - this however takes about 45 minutes to complete before the project is built and I can start working on it. This wasn't always the case as it used to work really fast but for some reason now I cant seem to fix it. I have tried uninstalling and reinstalling (both the 32bit and 64bit launcher) as well as also ticked the "Install JREx86" checkbox at installation however nothing seems to work?

Any ideas on how to fix this would be greatly appreciated.

Thanks so much in advance