Edinburgh dominates Scotland’s most expensive streets
11 December 2015
Edinburgh has the highest number of expensive streets in Scotland, according to research from Bank of Scotland. Edinburgh is home to 13 of Scotland’s top 20 most expensive streets, with Aberdeen accounting for four of these prestigious locations and Glasgow two. Mar Hall Avenue in Bishopton, Renfrewshire is the only street featured in the top 20 list outside of one of the main cities. (Table 1)
A short walk from the centre of Edinburgh lies Northumberland Street, which has been named Scotland’s most expensive street, with an average house price of a cool £1.3m. Out of the seven residential streets in Scotland that have homes averaging over £1million, three are in Edinburgh. Homes on nearby Ann Street cost an average £1.2m, while Newington’s Hatton Place has an average house price of £1m. (Table 2)
Eight out of the ten most expensive streets in Aberdeen are all located in the AB15 postcode. To live in Loirsbank Road, Rubislaw Den South and Friarsfield Way you have to be prepared to spend an average £1.1m for a property there. Milltimber’s Cutler House Road is not much cheaper however, with an average price of £964,000. (Table 3)
Only one street in Glasgow has an average house price of over £1m - Baroness Drive in Thorntonhall. Three of Glasgow’s top ten are located in Bearsden - Boclair Road (£929,000), Ralston Road (£796,000) and Thorn Grove (£715,000). (Table 4)
Nitesh Patel, economist at the Bank of Scotland, commented:
“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."