More than 1,200 households have applied to the Scottish government's Help to Buy (Scotland) scheme since its launch in September 2013, with over 200 already in new homes.
Official figures show that 1,205 applications were received by the New Year, which provides financial support to make buying a home easier. From the launch in September until January this year, 203 households have so far successfully gained a mortgage and bought new homes through the initiative.
Help to Buy (Scotland) is open to all first-time buyers and to existing homeowners buying a new-build home from participating home builders. To date, 109 housebuilders have signed up, with five lenders offering mortgages under the scheme.
Nicola Sturgeon, deputy first minister of Scotland, remarks: "There is no doubt that getting onto or moving up the property ladder has become tougher in recent years, which is why our Help to Buy (Scotland) scheme is crucial in helping more households take that step.
"Help to Buy (Scotland) is not only helping people buy their first home, it also helps second-steppers and others move to a new property. The scheme is also helping stimulate economic growth by supporting our housing industry alongside our commitment to investing in affordable housing across Scotland."
The Scottish government is providing help to eligible buyers of up to 20% of the purchase of a new-build home from a participating housebuilder.
Philip Hogg, chief executive of Homes for Scotland, is impressed by the progress of the scheme but admits there are still issues to overcome. "[Help to Buy] has already demonstrated its game changing impact since its launch last September, acting as a positive indicator for industry recovery.
"However, there are still a number of barriers to recovery such as supply-side issues which need to be addressed if output is to increase to the levels required to meet housing need. We therefore look forward to working alongside the Scottish government to address these issues and seeing the Help to Buy scheme grow further."
Martin Egan, managing director of Dawn Homes, is delighted by the success of the scheme. He says: "This month alone, 10 of the 25 sales completions at Dawn Homes have been successfully delivered through the Help to Buy scheme. This represents 40% of our sales transactions and shows that this flagship policy is having the desired effect in stimulating the construction economy, as well as providing wider economic benefits."
You can find out more about Help to Buy (Scotland) here.