By
Lee Boyce
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The number of first-time buyers increased by 22 per cent in 2013 representing the largest annual boost since 2001, Halifax data has revealed.
Last year, 265,000 people managed to make their first step onto the property ladder compared to 218,000 in 2012. In 2008 this figure had slipped to just 192,300.
The rise means that the number of first-time buyers has increased for a second consecutive year, with 2012 also seeing a 13 per cent boost.
Picking up: Last year saw the highest level of first-time buyers since 2007 according to the Halifax figures
However, despite the pick-up in those snapping up their first home, the number is well down on levels seen between 2002 and 2007. For example, there were 531,800 first-time buyers in 2002.
But the amount they have to fork out as a deposit is much larger than six years ago. The average deposit was £30,943 last year – 77 per cent higher than £17,499 in 2007.
There has also been a significant increase in the proportion of first-time buyers receiving financial help