Stockbridge street revealed as the most expensive in Edinburgh

Royal chauffeurs were said to be directed on an unusual detour on the route home to Holyrood Palace when the Queen Mother visited the Capital '“ down an elegant Georgian Street and setts of nostalgia.

By The Newsroom
Sunday, 30th December 2018, 3:06 pm
Updated Thursday, 17th January 2019, 2:48 pm
Which street has topped Edinburgh's most expensive list? Picture: Thinkstock
Which street has topped Edinburgh's most expensive list? Picture: Thinkstock

Legend has it that the elegance of Ann Street in Stockbridge conjured an image reminiscent of the world of her youth.

And in a new rich list, the cobbled street with period ornate lights, has adopted a royal price tag after being revealed as the city’s most expensive street.

Overtaking the New Town and Merchiston that topped last years list, the street has an average selling price of £1.7 million and is also the second priciest address in Scotland, according to an annual report from Bank of Scotland.

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Overtaking the New Town and Merchiston that topped last years list, the street is also the second priciest address in Scotland. Picture: Neil Hanna

Dubbed Millionaires Row, the Georgian townhouses with generous front and back gardens have been long sought-after property in the popular area.

The New Town took second and third spot with Northumberland Street as Edinburgh’s second most expensive street at £1,537,000 and Heriot Row retaining third place with an average sale of £1.5m.

Ricky Diggins, director at Bank of Scotland, said, “It’s no surprise that the capital dominates the majority of the top spots, particularly given the average house price continues to be among the highest in the country.”

However for the second year in a row it is Fife that has pipped the post as home to the priciest address in Scotland.

The survey revealed Golf Place – a short walk from the infamous Old Course in St Andrews – as having an average house price of £1,975,000.

“For the second consecutive year, no location in Scotland is on a par with St. Andrews when it comes to the country’s most prestigious addresses,” Mr Diggins added.

With 12 of Scotland’s top 20 most expensive streets, and eight of the top 10, Edinburgh dominates the table. Aberdeen now only accounts for two of the most prestigious locations, and a new entry from Glasgow into the top 20 means the city now has four of the priciest streets in Scotland.

David Marshall, Operations Director at Warners Solicitors and Estate Agents, said: “It is in many ways unsurprising that Edinburgh dominates the list of Scotland’s most expensive streets.

“In recent years demand has exceeded supply throughout the market, causing potential buyers to compete and prices to soar in what is regarded as one of the UK’s strongest property markets.

“That supply shortfall is beginning to ease slightly as more properties are coming onto the market - and we believe overall, prices will likely rise just one or two per cent in 2019.

“That said, the very top end of the market may even see prices marginally dip - however even then it will remain stronger than in most other parts of the country.”

This year, sees the launch of upmarket The Crescent in the grounds of former Donaldson’s School boosting the capital’s supply of high-end property, with available two and three bedroom apartments ranging from £950,000 to £1,925,000.

CALA Homes (East) Philip Hogg, said: “Both house hunters and investors are drawn to Edinburgh for its abundance of culture, booming financial and tech sectors and variety of amenities, including celebrated restaurants, world-renowned shopping and historic sights.

“That has helped to fuel what is widely recognised as one of the country’s strongest property markets - especially at the top-end of the market.

The top 20 in Edinburgh also include last years top address, Ettrick Road in Merchiston, the row of A-listed townhouse designed by William Playfair on Regent Terrace, New Town’s Drummond Place, the Edwardian detached and semi-detached red bricks on Inverleith Avenue South and Saxe Coburg Place.