Across the UK’s nations and regions, house price growth remains uneven.

Northern Ireland has again recorded the strongest annual increase, with prices rising by 6.8% year on year. The average house price in the region now stands at £203,131, outpacing all other areas.

Wales also saw strong price growth, with house prices up by 4.1% annually, bringing the average price to £225,084. Similarly, the North West of England saw significant growth, with property prices rising by 5.9% to an average of £237,045.

The West Midlands experienced a 5.5% increase in house prices, with the average property now costing £257,982. In contrast, Scotland recorded a more modest rise of 2.8%, with the typical property now priced at £208,957.

Despite strong price increases in many regions, London retains the highest average property prices in the UK. The capital saw a 3.5% annual increase, with the average house price reaching £545,439.

UK house prices rose for the fifth month in a row in November to hit a new record high of £298,083, according to Halifax.

Property values rose by 1.3% month on month, but on an annual basis house prices increased by 4.8% in November, accelerating from 4% growth in October.

The price surge is being driven by improving mortgage demand, as recent reductions in interest rates bolster buyer confidence. However, affordability remains a challenge for many potential buyers, according to one of the country’s biggest mortgage lenders.

Amanda Bryden, head of mortgages at Halifax, said:

Looking ahead, Bryden anticipates that positive employment data and further interest rate reductions will continue to support demand in the housing market, although she warned that house price growth may slow, given the elevated borrowing costs compared to historical norms.

Stocks in Asia were mixed overnight amid the fallout from South Korea’s brief declaration of martial law.

The Nikkei (^N225) dipped 0.8% on the day in Japan, while the Hang Seng (^HSI) rose 1.6% in Hong Kong.

The Shanghai Composite (000001.SS) was 1.05% up by the end of the session, to three-week highs, as investors scooped up technology shares ahead of a top-level policy meeting next week that will set the agenda and targets for China’s economy next year.

In South Korea, the parliament is discussing the impeachment of President Yoon Suk Yeol for trying to impose martial law.

Fears about a second martial law declaration sent the Korean won tumbling as much as 1% and the Kospi (^KS11) down 1.8%, although they narrowed losses after suspected intervention by authorities in the forex market.

Across the pond, Wall Street stocks retreated from records yesterday, taking a breather from a post-election rally ahead of the release of key US jobs data.

Investors are waiting to see if payroll figures will challenge or cement expectations of an interest rate cut this month.

The broad-based S&P 500 (^GSPC) dipped 0.2% to 6,075.11. The Dow Jones (^DJI) fell 0.6% to 44,765.71, while the tech-heavy Nasdaq (^IXIC) slipped 0.2% to 19,800.26.

In the bond market, the yield on benchmark 10-year US Treasury notes fell to 4.175% from 4.196% late on Wednesday.

Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what’s moving markets, and all that’s happening across the global economy.

Here’s a quick look at what’s on the agenda for today:

• 7am: Trading updates: Diploma

• 7am: Halifax House Price Index

• 10am: Eurozone GDP growth third estimate

• 1:30pm: US non-farm payrolls, US Unemployment Rate

• 8pm: US Consumer Credit