New figures published by Halifax have highlighted the largest annual rise in the number of first-time buyers (FTBs) entering the property market since 2001.

2013 saw a 13% increase in FTB activity in comparison to the whole of 2012, with an estimated 265,000 FTBs completing transactions within the last 12 months.

Overall, FTBs increased their share of the mortgage market in 2013 to 44% - up from 40% in 2012.

Martin Ellis, housing economist at Halifax, commented: "Low interest rates, improvements in consumer confidence and government schemes, such as Help to Buy, all appear to have contributed to the rise in the number of FTBs."

However, he added the issue of large deposits continues to be a problem for many individuals keen to take their first steps on to the UK's property ladder at present. In addition, continuing pressure on household finances over the year ahead will also likely be a constraint on further increases over the coming months.