Edinburgh Has Most Expensive Houses In Scotland

11 December 2015, 07:48 | Updated: 11 December 2015, 07:52

Northumberland Street in Edinburgh has been named the country's most expensive street, with an average house price of just over £1.3 million.

Half of Scotland's ten most expensive streets are in the capital, according to research from the Bank of Scotland.

Properties in Ann Street and Hatton Place in Edinburgh, Lorisbank Road, Rubislaw Den South and Friarsfield Way in Aberdeen and Baroness Drive in Glasgow are also worth more than £1 million on average.

Edinburgh is home to 13 of the top 20 most expensive streets, with Aberdeen accounting for four and Glasgow two.

Mar Hall Avenue in Bishopton, Renfrewshire, is the only street featured in the top 20 outside one of the main cities, with homes worth #917,000.

Eight out of the ten most expensive streets in Aberdeen are all located in the AB15 postcode.

It emerged earlier this year the number of homes in Scotland sold for more than £1 million has more than doubled over the last 12 months.

There were 111 sales of more than #1 million in Scotland in the first half of this year, compared to 43 in the same period in 2014.

The latest Bank of Scotland street value report is based on house price data collected by the Registers of Scotland on house sales between January 2010 and October 2015.

Only streets where there have been at least seven transactions over the period are included in the survey.

Nitesh Patel, economist at the Bank of Scotland, said: ``As Scotland's financial and political hub, it's expected that Edinburgh would hold some of the most expensive properties.

''However, Aberdeen accounts for three of the top five most expensive streets, providing the Granite City with a strong presence.

''Interestingly we're seeing Mar Hall Avenue, Bishopton, become the first street outside of a major city to feature in our research.

''The amount of homes in Scotland that have sold for more than a million pounds has more than doubled within a year, many of these sales took place before the new land and building transaction tax came into force April of this year. This is likely to have impacted some streets in this survey.''