The average deposit for house purchases using the Help to Buy mortgage guarantee (HTB2) hit a 10-month high in February.
Buyers using the scheme in February put down an average deposit of £9,936, up by 9.2% from £9,099 in January, according to new data from brokers the Mortgage Advice Bureau.
HTB2 deposits reached their highest point since April 2014 when they stood at £11,438.
Average HTB2 deposits have now risen for three successive months from a low of £7,856 in November 2014. This has added more than £2,080 to the typical sum needed to support a house purchase through the scheme.
Mortgage Advice Bureau's analysis shows how the upcoming HTB Isa will cut the time needed to save the average deposit.
The saving scheme, which sees government contributing £50 for every £200 saved by first time buyers up to a maximum of £12,000, could help a savvy couple build the average £9,936 deposit in just 15 months.
That is 10 months faster than if they were saving on their own at the same rate.
The government bonus, which boosts savings by 25%, would supply £1,987 of this sum at the end of the savings period.
So by saving only £7,949, a customer could build up the full £9,936 deposit required for an average HTB2 mortgage.
A first-time buyer couple who both save the maximum allowance of £200 each per month could reach the £7,949 target in 20 months, compared with 25 months if they tried to save the whole £9,936 at the same rate without government support.
Mortgage Advice Bureau's data shows the average HTB2 customer has a salary of £30,185.
Someone with this level of income would need to put aside just 10% of their net monthly salary (£1,967) to make the maximum £200 monthly contribution to the HTB ISA.
Brian Murphy, head of lending at Mortgage Advice Bureau, said: "Help to Buy's importance to easing affordability pressures is plain to see: the average deposit of those using the scheme remains far below those found in the wider marketplace, giving first-time buyers access to the housing market in a far shorter timescale than would otherwise be possible without parental help.
"The HTB ISA will provide a further boost to first-time buyers. By paying a modest 10% of their savings after tax into a HTB ISA, a couple would be able to reduce the time they need to save for a deposit by as much as nine months.
"The new Isa scheme will be another step towards make homeownership a realistic goal for first-time buyers on average incomes."
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