THE regional division of a national housebuilder has revealed a £75 million injection in Yorkshire's economy as house asking prices reach a record high.

Figures released yesterday revealed house-sellers' asking prices have jumped to a new record across England and Wales, with the average property on the market in June having a price tag of £294,351, according to Rightmove.

The new high is £8,218 higher than a previous record set in April, as the number of properties coming to market fell by 8.5 per cent on the same period a year ago, and was down 3.9 per cent from the previous month.

As the housebuilding sector reports a boom, Barratt Developments’ Yorkshire East Division, which includes both the Barratt Homes and David Wilson Homes brands, announced that in the past 12 months it has invested more than £75 million in the local economy by working with Yorkshire-based sub-contractors and suppliers at its developments across the region.

A number of new developments are set to launch in 2015 including The Meadows and The Chocolate Works in York, alongside new developments in Harrogate, Knaresborough, Doncaster, Hessle, Barlby and Anlaby

Steven Doyle, commercial director at Barratt Developments’ Yorkshire East division, said: "It’s no secret that when the house building sector enjoys increased demand, the industry is able to maintain fruitful relationships with both local suppliers and subcontractors, as we look to provide work and support their businesses.

"As a result, the economy in the local area sees an undoubted boost and this will continue to grow as we launch further sites in 2015."