EDINBURGH has six of the top ten most expensive streets in Scotland, new research has revealed.
• Warriston Crescent. Picture: Greg Macvean
The report, which will cheer the capital's housing market, found that Warriston Crescent, a row of elegant townhouses next to the Water of Leith, is the most expensive street of all, with an average house price of 960,671.
Laura Strong, who has lived in her Georgian property since 1991, said the plaudit was well-deserved.
"Unlike many other streets, where they have been divided and ravaged by conversions, the properties in the street are original Georgian townhouses," explained the art director, who lives at number eight, an A-listed property split over three levels.
"It's a beautiful house, and every one on the street is slightly different. They were all custom-made for the original owners. They seem quite humble from the outside, but the interiors are so intimate and have the original features. The street is close to the city centre but it still feels like you're living in the countryside."
Ms Strong, who rents out the six-bedroom property during the festival season, added: "When people move into the street, they tend to stay for a long time. I think the longest resident has been here for more than 40 years."
Properties throughout the New Town and Morningside feature prominently in the report, compiled by Bank of Scotland, and the city is home to the top five most expensive streets in the country.
At number two in the list is Drumsheugh Gardens, with an average house price of 883,254, while third position is taken by Merchiston Gardens, where properties fetch 672,856 on average.
The most expensive street outside Edinburgh is Morningfield Road in Aberdeen's west end. At number six in the list, it has an average price of 592,297.
Glasgow's most expensive street is Royal Gardens with an average price of 571,500, followed by Victoria Park Gardens South in Broomhill (523,429).
While the top end of the housing market has seen little activity of late, with the roots of recovery being seen in the middle of the market, one estate agent yesterday anticipated brisk business in the first months of 2010.
The Bank of Scotland report, published today, highlights the top 20 expensive streets in Scotland. While it has six in the top ten, Edinburgh can count on eight addresses overall. They include: Church Hill; Great King Street; Comiston Drive; Murrayfield Avenue and Bruntsfield Crescent.
The Glasgow area, meanwhile, has five streets in the top 20: Royal Gardens, Victoria Park Gardens South, Park Gardens, Torrance Avenue, and Buchanan Castle Estate.
Outside the two major cities, the most expensive streets can be found in Robert Smith Place in Dalkeith, Midlothian, which was named the most expensive place to buy a house in Scotland three years ago. Another street in the town, Matthews Drive, is also included.
Also featured is Cowieson Crescent in Ellon, Aberdeenshire, Lawers Drive in Dundee, Leslie Mains in Glenrothes, and Watson Street in Falkirk.
Nitesh Patel, housing economist at Bank of Scotland, said that, given the civic importance of Scotland's largest cities, it was no surprise they dominated the list.
"Thirteen of Scotland's 20 most expensive residential streets are in Edinburgh and Glasgow," she said. "This is not surprising as they are the major business and political centres in the country. Whilst the most exclusive addresses in Edinburgh are mostly clustered in the New Town and Morningside, in Glasgow they are more dispersed across the city."
The data in the Bank of Scotland report was compiled from more than 1.78 million UK post codes supplied by the Royal Mail in conjunction with the Bank of Scotland house price database.
The house prices worked out are based on the annual average prices of transactions between September 2005 and September 2009.
z1. WARRISTON CRES, EDINBURGH
THE row of elegant Georgian townhouses was built between 1818 and 1839. The cul-de-sac, situated off Inverleith Row, follows the gentle curve of the Water of Leith, which runs immediately behind the street.
The street, with an average house price of 960,671, is renowned for its unspoilt nature. Whereas many have been converted, those on Warriston Crescent retain original features.
2. DRUMSHEUGH GDNS, EDINBURGH
LOCATED in Edinburgh's handsome west end, the street has long been one of the capital's most sought-after addresses.
A two-bedroom ground-floor flat within a converted townhouse is currently on the market for a fixed price of 480,000.
The Bank of Scotland research puts the average house price on Drumsheugh Gardens, also home to a celebrated hotel, the Bonham, at 883,254.
3. MERCHISTON GDNS, EDINBURGH
ONE of the capital's most well-known addresses, the average house price on the street is 672,857.
Those who stay there do not only have the free run of their own homes – keyholders to properties on the exclusive street have access to secluded gardens.
A substantial four-bedroom Victorian townhouse sold for 750,000 in the autumn, despite being in need of modernisation.
4. CHURCH HILL, EDINBURGH
ALONG with Merchiston Gardens, it is the second EH10 address in the list, and has an average house price of 647,333, according to the Bank of Scotland report.
The quiet, genteel street is a mixture of flats and grand, imposing villas, and features an array of shops. Despite its title, a theatre of the same name, a popular venue during the festival season, it is actually located on nearby Morningside Road.
5. GREAT KING STREET, EDINBURGH
ANOTHER Edinburgh address, the street has been home to some famous figures in history.
JM Barrie, the creator of Peter Pan, once lived here with his landlady and a retired army officer during his studies in the capital. The street was also once home to Robert Christison, one of the founding fathers of the study of poisons.
The EH3 postcode has an average house price of 607,623.
6. MORNINGFIELD ROAD, ABERDEEN
AT number six on the list, Morningfield Road is the highest entry from Aberdeen.
The street, situated to the west of the city centre, was once home to Honeybrae, a cottage where Lord Byron spent his summer holidays in the 1790s.
Properties have an average price of 592,297. A four-bedroom house on the street built in the 1990s is currently on the market at offers over 595,000.
7. COMISTON DRIVE, EDINBURGH
SITUATED near Morningside, Comiston Drive is one of the most sought-after addresses in Edinburgh.
The street is lined with imposing late Victorian sandstone properties, and can count several high-powered executives among its residents.
The average house price on the street is 586,320. One handsome four-bedroom end terrace house sold in October for 570,000.
8. ROBERT SMITH PLACE, DALKEITH
AT FIRST glance, the Midlothian market town of Dalkeith may seem an unusual location for one of Scotland's most expensive streets, but increasingly it is a popular choice for those who work in Edinburgh but want to escape the city.
Three years ago, the town was named the most expensive place in Scotland to buy a house. Properties on Robert Smith Place boast an average price of 581,875.
9. ROYAL GARDENS, BOTHWELL
WITHIN easy commuting distance of Glasgow, the street is located in the affluent Lanarkshire suburb of Bothwell, a haven for the city's wealthy and some Old Firm footballers.
The average house price in Royal Gardens is 571,500, and there is presently an opportunity to snap up a house there – a five-bedroom detached house in Sovereigns Gate is currently on the market at offers over 665,000.
10. COWIESON CRESC, PITMEDDEN
WITH an average house price of 523,667 according to the Bank of Scotland report, it is clear the street is of great appeal to commuters who work in Aberdeen, 16 miles away.
Located in the picturesque village of Pitmedden near Ellon, Aberdeenshire, not every house features an exorbitant price tag. A four-bedroom detached villa on this crescent is currently on the market for offers over 235,000.