St Andrews has added to its reputation as the home of golf by also being the location for Scotland’s most expensive street.
The Scores, which runs along the cliff edge, has knocked Edinburgh off top spot, with an average house price of £2,179,000.
The narrow road is lined with traditional Victorian detached and terraced houses along the cliff edge of the town. At one end isthe first tee of the world famous Old Course.
Its proximity to the course has attracted mainly wealthy overseas buyers, typically Americans and others from the Middle East, Singapore and China.
One home was sold by Savills for £4m which is twice the highest price achieved in Edinburgh. Another – a 1970s building – was bought for £3m and demolished to make way for a new house.
However, the data from Bank of Scotland shows that Edinburgh still dominates half of the top 20 expensive streets in Scotland.
Despite the oil slump, Aberdeen has five – higher than last year – and Glasgow three. Balmoral Court in Auchterarder is the only top 20 location outside the main cities.
Edinburgh’s most expensive residential street is Ettrick Road in Merchiston, where homes are a mixture of late Georgian, Victorian and Edwardian villas and Victorian tenements. An average house is priced at £1,899,000.
The New Town’s Northumberland Street (£1,390,000) and Heriot Row (£1,374,000) are Edinburgh’s next most expensive streets.
Seven out of the ten highest-priced roads in Aberdeen are all located in the AB15 postcode. A property in Rubislaw Den North or Rubislaw Den South will cost more than £1.5m.
Last year, only one street in Glasgow had an average house price above £1m – Baroness Drive in Thorntonhall. This remains Glasgow’s most expensive street with an average price of £1,037,000.
However, it is closely followed by Baron Court in the G74 postcode (£1,035,000) and Grange Road in Bearsden (£1,033,000).
Graham Blair (right), mortgage director at Bank of Scotland, said: “With Edinburgh being Scotland’s financial and political hub, it’s little surprise that it still dominates the most expensive streets table.
“Aberdeen retains a strong presence and the number of expensive streets has almost doubled compared to last year.
“While the capital and the Granite city dominate this survey it is interesting to note that in all 20 most expensive streets the average house price is at least £1 million, suggesting a rise in the number of the prime locations in Scotland.”
A separate report reveals that most property across the UK is being sold below the asking price.
The report published by the National Association of Estate Agents (NAEA) states than more than four in five (84%) properties sold for less than asking price in November, the highest number since records began in 2013.
The number of properties on estate agents’ books was 39 in November. This is a 9% decrease from October when 43 were recorded, and the lowest level since July this year.
In November, three in every ten (29%) sales were made to first time buyers (FTBs). This is a 3% drop from October when a record number of sales were made to FTBs (32 per cent)
The number of sales agreed decreased in November, to an average of eight per branch, down from nine in October and September.
Mark Hayward, managing director, NAEA said: “Following the EU referendum earlier this year, we faced a few months of low confidence from buyers and sellers, although in October the market bounced back to full form.
“We expect this is still the case, and this month’s slow-down is simply down to seasonality – many sellers hold off until January to put their properties on the market, and likewise buyers are more inclined to start the year with a property search, rather than attempting it over Christmas.
“Likewise, although a large number of sales were made below asking price in November, this can also be put down to the time of year.”
> A London square whose wealthy residents have included Margaret Thatcher and Sean Connery has been crowned the most expensive in England and Wales
Homes in Eaton Square, Belgravia, west London, sold with an average house price of nearly £17m.
Lloyds Bank research found that every region in England and Wales now has at least one million-pound street.
Eaton Square features Grade II-listed white stucco facades and has been home to three prime ministers and two James Bonds – the other being Roger Moore.
Earlier this year one home on the square sold for £25m.
Surrey towns Weybridge and Leatherhead account for eight of the country’s top 20 priciest streets.
Altrincham in Greater Manchester is home to northern England’s highest house prices, at an average of £2m, followed by Leycester Road in Knutsford, Cheshire, at £1.79m.