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Edinburgh Live
Edinburgh Live
National
Indigo Stafford

Edinburgh property: Capital has highest increase of millionaire streets in Britain

Edinburgh has had the biggest increase in the number of streets with an average house price of £1 million than any other place in Britain.

The new data, released by property website Rightmove, shows that the number of 'million-pound streets' has soared in the capital by a whopping 1,000 per cent since 2015.

Edinburgh's most expensive street has been named as Hill Place in the Old Town, where the average price of a property is now £1.2 million.

In 2015 there was just two streets in the capital that boasted homes priced over £1 million, but this has now risen to 22 streets.

Local agents say the demand for Edinburgh property has also increased in recent years, particularly for grand period properties, which they suggest may be down to the capital being more affordable than London and the South East - the average asking price in Edinburgh is now £294,633.

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.

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

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