These are the 5 most expensive streets to live on in Edinburgh

The number of million pound streets in Edinburgh has risen significantly over the past five years, increasing from just two in 2015 to 22 in 2020

This is the biggest five year increase of anywhere else in the UK, according to new data from property website Rightmove.

The most expensive streets in Edinburgh

According to Rightmove data, the five most expensive streets in Edinburgh are:

The number of million pound streets in Edinburgh has risen significantly over the past five years (Photo: Shutterstock)

Hill Place - average property values of £1,195,419 Rillbank Terrace - average property values of £1,153,589 Pitcairn Grove - average property values of £1,110,796 Upper Dean Terrace - average property values of £1,085,072 Rattray Loan - average property values of £1,078,815

Rightmove’s Director of Property Data, Tim Bannister, said, “Edinburgh is a beautiful city that’s always been a popular holiday destination for tourists, but our latest study shows that it’s also a highly desirable place to live for home-movers in the top-of-the-ladder sector.

“The combination of great architecture, a strong business sector and a vibrant cultural scene make it a very attractive alternative to other major UK cities.

“The average asking price of property in Edinburgh has jumped by 8.8 per cent compared to this time last year, outstripping the national average rise of 5.5 per cent, which highlights that Edinburgh is proving to be very much in demand right across the board.”

Addressing the appeal of Edinburgh over other cities such as London, Andrew Riddell, Senior Associate Director Strutt & Parker Edinburgh, said, "For buyers in Edinburgh the key drivers are lifestyle, affordability and schools.

“When compared to most of the UK, and in particular London, the amount of house you can get for £1m is impressive.

“Although we've seen the attractiveness of living within Edinburgh climb over the last few years, more recently the ability to work from home has further increased demand for prime family homes from buyers relocating from other cities such as London.”

Rise in million pounds streets

Rightmove’s recent study, which defined a “million pound street” as any residential street where the average value of a home is £1 million or above, found that the most expensive street in Edinburgh is Hill Place, with average property values of £1,195,419.

However, across Edinburgh as a whole, average asking prices are £294,633.

Local agents also report that demand has soared in recent years, particularly for grand period properties, which they suggest may be driven by Edinburgh being more affordable than London and the South East of England.

Elsewhere in the UK, Hackney in London has seen a rise in million pound streets since 2015, rising from three to 30.

The other areas in the top five with the biggest increases in million pound streets outside London - after Edinburgh - are Winchester, Sutton Coldfield, Poole, and Alderley Edge.

Overall, outside London, the number of million pound streets is now up 20 per cent, compared with five years ago.