The Homes for Scotland group said the Scottish Help to Buy shared equity scheme had provided a boost to private sector building.

Total house building figures in 2014 were 22% above the last full year before the scheme’s introduction, 2012.

However, the scheme is currently in limbo as the Scottish Government’s scheme has already used up its 2015/16 funding pot, just two months into the new financial year.

Homes for Scotland chief executive Philip Hogg said the scheme had been a huge help to the market.

“Having already resulted in 5000 sales and now proven to have significantly increased housing production, the impact of Help to Buy (Scotland) is obvious for all to see,” he said.

“Not only has it stimulated the building of much needed new housing and helped people meet their aspirations to own their own home, it has also channelled investment to Scotland, supporting vital jobs and boosting the wider economy.”

Hogg went on to say the scheme should be extended so the country can reap the benefits across the wider economy.

“Disappointingly, however, with demand resulting in early closure of the main scheme  just last week and no announcement on further support forthcoming from the Scottish Government,” he added.

“We now seem to be at risk of letting the opportunity to build on its success pass us by rather than capitalising on the wide-ranging social and economic benefits it has to offer.

“There is still a long way to go in addressing our country’s housing crisis but in order to harness the potential that Help to Buy (Scotland) has already demonstrated and maintain this momentum, we hope the Scottish Government acts on this clear evidence of success and provides an early signal on its intentions for a successor scheme from April 2016.”