Edinburgh street average hits £1.7m

Dec 28 2012

A city street with an average house price of around £1.7 million remains the most expensive in Scotland, according to a study.

Dick Place in the Grange area of Edinburgh is lined with Victorian villas that cost ten times the average house price of £159,310, which was also named the most expensive street last year.

Of the 20 most expensive residential streets, half are in Edinburgh, with the list including Ann Street (which has a £1.2 million house price average), Hillpark Grove (£967,000) and Redhall House Avenue (£934,000).

Classical architecture and the city's position as the financial and political centre of the country drive up the prices, according to the Bank of Scotland which conducted the study.

The second most expensive street in Scotland is Rubislaw Den South in Aberdeen with an average price of £1.45 million.

Glasgow's Park Drive (£923,000) and Burnside Road (£903,000) are also on the list.

Nitesh Patel, economist at the Bank of Scotland, said: "Scotland's most expensive residential streets are concentrated around the cities of Edinburgh, Glasgow and Aberdeen.

"Half of Scotland's most desirable addresses are in the capital which has a mixture of classical architecture in the Old Town and Georgian buildings of the New Town, alongside modern developments in central locations."

Outside of the three cities, the most expensive homes are in Mar Hall Avenue, Bishopton, Renfrewshire, (£929,000) and Belleisle Drive, Ayr (£823,000).

The study calculated the average price from all sales over a five-year period, as recorded by Registers of Scotland.